The USDA corn acreage and stocks numbers are above pre-report trade expectations. Mike North leads the production division for Ever Ag and says these are the numbers that will be traded for some time. Ever Ag Marketing President Mike North was surprised by Friday’s USDA reports. Corn acreage and stocks were both higher than expected. “There’s a tug of war taking place between the broad weakness in corn and the aspirations for strength in soybeans. There’s a lot of volatility in this report.” In this environment, North sees defense as the key,” said North. USDA said 3.3 million acres of corn were not planted on June 1, but they were counted as planted. The actual prevent plant acres won’t be available until August so the trade will continue to focus on a 2 billion bushel corn carryout for much of the summer.
