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March 31 USDA Report Recap

  • 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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