Corn Loses Chart Support With Acreage Debate Still Ahead

Corn acreage in the US, via USDA's AgForum estimates, would run +2.4 million this year to 91.0. There is no disagreement with this among private analysts. That Bloomberg newswire poll on Friday estimated +2.3 to now 90.9. Ending stocks in USDA's view would change from 1.267 billion bushels old crop to 1.887 new. That was a little over the 1.788 trade estimate from the newswire survey. USDA's measurement of cash prices, season average for Central Illinois, would change from 670 old crop to 560 new.

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