USDA Report Recap March 31, 2020

Grain Lol Corn Free To Use 1024X546

At 11:00 AM, the USDA released their Prospective Plantings and Quarterly Stocks reports. Here is the info: 

Prospective Plantings Report (Million Acres) 

Average Estimate

Last Year

USDA Actual

CORN

94.328

89.7

96.99

SOYBEANS

84.865

76.1

83.51


Grain Stocks as of March 1st (Billion Bushels) 

Average Estimate

Last Year

USDA Actual

CORN

8.125

8.613

7.953

SOYBEANS

2.241

2.727

2.253

Just prior to the release, corn was down about 2 with May soybean futures about 3 higher, and November off about 1 1/2. Within the first few minutes of trading after the report, corn was back to unchanged, and then off 5 to 6 with beans up 1 to 2 Old Crop and unchanged for New Crop.

As of about 11:10, corn is down 3 to 4 and beans are up 2 to 3. 

Please keep in mind that this data was collected March 1st, prior to the downturn we’ve seen in the energy and other commodity markets during the month of March.