USDA Acreage and Quarterly Grain Stocks Reports

June 30, 2016

Aaron Smith and Chuck Danehower

Department of Agricultural & Resource Economics, University of Tennessee Extension

Market Reaction

On Thursday June 30th corn prices received a double hit as both the Stocks and Acreage reports provided greater estimates than anticipated, precipitating an immediate 15 cent drop in corn futures. Soybean futures reacted very positively (up 40+ cents) to the reports. Soybean acreage was up but not as much as some pre report estimates and stocks, while up from last year, still indicate excellent demand. Additionally, the report removed some uncertainty for soybean bulls that were perhaps concerned about a report surprise. Continue reading at USDA Acreage and Grain Stocks Reports. A profitability update is also included.