Not Expecting Large PP Number

Grain traders took risk premium out of the grains Friday. AgriSompo North America chief analyst Sterling Smith says traders are not expecting large PP acres. “The planted acres report at the end of the month is going to be closely followed,” said Smith. “How many corn acres did we really get planted, that will probably set the tone going into the 4th of July and exactly how pollination and weather behave.” Smith said the U.S. trend line corn yield of 181 bushels per acre may be a little unrealistic. “We’ve never had a January yield above 180 bushels per acre, let alone above 181.”