On Tuesday June 30th the USDA surprised the market releasing decidedly bullish estimates for corn, soybeans, cotton, and wheat. The Acreage report provided the primary catalyst for corn and cotton price increases. The Quarterly Stocks report keyed the increase in soybean futures. Weather remains on everyone’s mind as excessive rain in many areas has: delayed wheat harvest; prevented corn, soybean, and cotton plantings; and adversely affected crop conditions. As we move forward, weather will be the primary market driver. The question to be determined is which direction will the market (and weather) go from here? Continue reading at USDA Acreage & Quarterly Grain Stocks Report.  This includes an Profitability Outlook update.