[Listen] Gordy USDA Stocks and Acres Report Released Today

This morning at 11:00 the USDA released the Perspective Plantings Report and the Quarterly Grain Stocks Report. The Stocks Report was not far off from the stocks last year. Corn was actually a little friendly and beans a bit bearish. Plus, they were not far from the "average trade guess." The surprise came from the Perspective Plantings Report.

Remember the USDA survey is done early in March so the acres can still change from then until planting. Traders were anticipating that farmers would cut corn acres and plant more bean acres. The surprise was how big the shift was from corn to beans. Fertilizer prices more than double last year, concerns about availability and other supply chain issues, plus fuel prices all could have been some of the reasons for the shift!

Then there is the weather this spring for planting that could be a major factor in how many acres of different crops get planted. Click on the link and listen to Gordy Kralovetz with Chiodo Commodities talk about the USDA Report a few minutes after the release at 11:00 this morning!