Corn trade is quiet Monday morning as markets await the USDA Acreage and Grain Stocks reports.
Analysts expect a slight increase in U.S. planted corn acreage, while June 1 stocks are projected to be lower than a year ago.
Pockets of dryness are emerging east of the Mississippi River, and warmer-than-normal temperatures over the next 10 days may further stress crops in areas that have missed recent rains.
Soybean futures are higher Monday morning ahead of the USDA report at 11 a.m., supported by news of a trade truce with China over the weekend.
A daily flash sale of soybean meal to unknown destinations also provided an early boost.
Trade expectations call for a slight increase in planted acreage from March intentions, while June 1 soybean stocks are projected to be near last year’s 970 million bushels.
Wheat futures are slightly higher to start the week, supported by positive trade developments over the weekend.
Traders are anticipating total U.S. wheat acreage to come in between 45 and 46 million acres in today’s USDA report, though more attention may be paid to stocks figures, which will represent 2024-25 beginning supplies.
Weather remains a key factor, with storms forecast across Kansas, Nebraska, and the Dakotas likely to slow winter wheat harvest progress. The Northern Plains also experienced heavy weekend rains and tornadoes in North Dakota, adding to concerns.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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