Few Surprises in USDA's Grain Stocks and Acreage Report

There were few surprises in Friday morning's USDA Grain Stocks and Acreage reports for corn, while soybean acres came in toward the high end of expectations and quarterly soybean stocks were larger than traders expected.

Despite the larger-than-expected jump in corn and bean acreage in Friday's report, the grain complex was posting strong gains at midday Friday. Hot, dry weather shrinking the size of the U.S. crop and supportive outside markets sparking a fresh inflow of investment money were the main factors in control of the grain complex, according to DTN Analyst John Sanow.