If there was a surprise going into the June quarterly stocks and planted acreage report, traders were expecting it to be in the stocks number. StoneX market analyst Arlan Suderman says the big shock was with the corn acres. “We had heard reports of increased corn acres across the Midwest, but we thought it would be offset by the prevent plant acres in the northwest and it would balance out. Those increases were much bigger than expected.” Suderman calls this report a game changer for the soybean market. “There’s zero margin for error for soybeans this year. On the other hand, corn could afford to lose some yield due to bad weather.”
