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Corn acres come in above expectations
USDA estimates 95.326 million corn acres will be planted this spring, nearly a million acres above the average pre-report estimate. Soybean and wheat plantings were slightly below expectations. March 1 corn stocks met analysts’ expectations, while wheat and bean stocks were slightly above.
Markets keened in on Monday’s reports for most of last week with fresh catalysts at hand.
Soybeans saw modest strength overnight while corn and SRW wheat traded near unchanged.