USDA Sets New Crop Corn Estimates, Traders See Acre Increase Ahead

On May 12, USDA released its World Agricultural Supply and Demand report which estimates U.S. new crop corn ending stocks are projected at 1.5 billion bushels, which is higher than the average trade guess of 1.34 billion bushels. Corn acres planted are estimated at 91.1 million acres with an average yield of 179.5 bushels per acre. Traders are expecting USDA to make further increases on corn acres.

For more information, view the report here.