Good morning,
Corn markets are weaker this morning following a weekend of decent rains across the Midwest. Corn is currently trading 18 lower. Soybeans are currently 8 higher.
Good rains were seen across much of IL and IA over the weekend with additional rains and no persistent heat in the forecast at this time. Corn and soybean crop conditions are expected to decline slightly this afternoon but could stabilize this week given the recent rains. The USDA’s Grain stocks, and acreage reports will be out on Thursday and estimates are listed below.
USDA Quarterly Stocks (Billion Bushel)
| June 2022 | Average Estimate | June 2021 | March 2022 | |
| Corn | ? | 4.343 | 4.111 | 7.850 |
| Soybeans | ? | .965 | .769 | 1.931 |
| Wheat | ? | .655 | .845 | 1.025 |
USDA June Acreage (Million Acres)
| June 2022 | Average Estimate | March 2022 | 2021 Final | |
| Corn | ? | 89.961 | 89.49 | 93.357 |
| Soybeans | ? | 90.466 | 90.955 | 87.195 |
| Wheat | ? | 47.017 | 47.351 | 46.703 |
Have a Safe Day!
Garry Gard
920-348-6844
