USDA is estimating corn acreage at 90 million acres, down five percent of 4.6 million acres from last year and well below trade expectations. The planted area for soybeans is forecast at 86.5 million acres, a three percent increase from last year and slightly higher than the average trade guess. Corn stocks on March 1 totaled 8.3 billion bushels, 13 percent higher than a year ago. Soybean stocks were reported at 1.8 billion bushels, up nine percent.
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