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Farmers Are Holding On to 36% More Corn Compared to a Year Ago? What You Need to Know About USDA's Surprising Changes in 10 Charts

USDA's June Acreage report released Friday sent chills through the corn market. With planted acres for corn above pre-trade estimates at 91.5 million acres, the combination of more acres and growing stocks sent corn prices tumbling.Here's a quick recap of what USDA had to say in Friday's June Acreage and Grain Stocks reports:

  • 2024 corn planted acreage at 91.5 million, which is down 3 percent from 2023, but above the 90 million acres in the March Prospective Plantings report.

  • Soybean acreage was pegged at 86.1 million acres, up 3 percent from last, but down from the 86.5 million in March.

  • HAll wheat is estimated at 47.2 million acres, slightly lower than the 47.5 in March, but down 5 percent from 2023.

July 1, 2024



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