USDA will release quarterly grain stocks and planting intentions report Thursday. The average trade estimate for corn acreage is 92 million acres. That compares to 93.4 million acres last year. Soybean acreage is expected to be 88.9 million which is above USDA’s Outlook Forum number of 88 million. All wheat acres are expected to be 47.9 million, down slightly from the Outlook Forum estimate of 48 million. Spring wheat and durum are expected to total 13.5 million acres.
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