March Prospective Plantings & Quarterly Stocks
Mar 19, 2025
3-31-25
March Planting Intentions & Quarterly Stocks
Corn
The USDA pegged corn acres at 95.263 mln, above the average trade guess by around 1 mil acres. Stocks came in at 8.151 bil bu, right at the average trade guess.
Soybeans
Soybean acres came in at 83.495, slightly lower than the average trade guess. Stocks were 1.910 bil bu, above the average trade guess by 9 mln bu.
Wheat
Wheat stocks came in 22 mln bu higher than the average trade guess at 1.237 bil. All wheat acres were lower than the average trade guess by 1.1 mln acres. Winter wheat acres were pegged at 33.315 mln, 650 k acres lower than the average trade guess.
Bottom Line
The USDA surprised again, this time with a fairly neutral report. Market seems it was expecting something higher than 95 mln acres on corn based on the price reaction. Now that we have this report out of the way, weather and tariffs will be the driving force for price direction.
March Planting Intentions & Quarterly Stocks
Corn
The USDA pegged corn acres at 95.263 mln, above the average trade guess by around 1 mil acres. Stocks came in at 8.151 bil bu, right at the average trade guess.
Soybeans
Soybean acres came in at 83.495, slightly lower than the average trade guess. Stocks were 1.910 bil bu, above the average trade guess by 9 mln bu.
Wheat
Wheat stocks came in 22 mln bu higher than the average trade guess at 1.237 bil. All wheat acres were lower than the average trade guess by 1.1 mln acres. Winter wheat acres were pegged at 33.315 mln, 650 k acres lower than the average trade guess.
Bottom Line
The USDA surprised again, this time with a fairly neutral report. Market seems it was expecting something higher than 95 mln acres on corn based on the price reaction. Now that we have this report out of the way, weather and tariffs will be the driving force for price direction.