March 31st, 2023
Quarterly Stocks and Planting intentions report here this morning. Corn and bean stocks both below trade expectations. March 1st corn stocks down 5% from last year, beans down 13% from last year. Corn acreage bearish as we saw planting intentions up 92 million acres up 4% from last year. Bean intentions are pretty flat compared to last year. Flat bean acres, lower than expected bean stocks leading to bullish reaction for beans.