Written Commentary
USDA 2021 acres less than expected. SK +59 at 14.25 CK up limit at 5.64, WK +15 at 6.17.
USDA estimated US March 1 soybean stocks near 1,564 mil bu vs 1,534 expected and 2,255 last year.
USDA estimated US March 1 corn stocks near 7,700 mil bu vs 7,767 expected and 7,952 last year.
USDA estimated US March 1 wheat stocks near 1,314 mil bu vs 1,272 expected and 1,415 last year.
USDA estimated US 2021 corn acres near 91.1 mil versus 93.2 expected and 90.8 last year.
USDA estimated US 2021 sorghum acres near 6.9 mil versus 6.8 expected and 5.9 last year.
USDA estimated US 2021 soybean acres near 87.6 mil versus 90.0 expected and 83.1 last year.
USDA estimated US 2021 all wheat acres near 46.3 mil versus 45.0 expected and 44.3 last year.
USDA estimated US 2021 spring wheat acres near 11.7 mil versus 11.6 expected and 12.2 last year.
USDA estimated US 2021 all cotton acres near 12.0 mil versus 11.9 expected and 12.1 last year
Now trade money flow, weather and USDA April 9 supply and demand guess.
Soybeans may be supported by higher soyoil prices and increase pricing of soyoil demand.
Some feel 44 cents BOZ is too low for demand.
Q1 US stocks went from 30,223 to 33,259. Crude from 47.50 to 67.79 then 60.78.
US Dollar 89.15 to 93.47. SK from 12.97 to 14.60 then 13.64. CK from 4.90 to 5.72 then 5.33.
WK from 6.40 to 6.88 then 5.93
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