USDA INCREASED CORN STOCKS, DECREASED CORN PLANTED ACRES
Today, the U.S. Department of Agriculture reported corn stocks in all positions on March 1, 2018, totaled 8.89 billion bushels, up 3 percent from the same last year. They also report more corn being stored on farms, up 2 percent from 2017 to 5 billion bushels. Off-farm stocks also saw an increase over last year up 5 percent to 3.89 billion bushels.
USDA predicts planted corn acres for 2018 at 88.0 million acres, down 2 percent of 2.14 million acres from last year. Planted acreage is expected to be less nationwide.