DTN Closing Grain Comments

The soybean market got a double bullish whammy of lower-than-expected March 1 stocks and acreage on the March USDA prospective planting and stocks report. The report was bearish for new-crop corn, with acreage pegged at 1.2 million higher than the average estimate, and wheat planting was bearish, with all wheat seeding also just over 1.2 million acres higher than estimates. However, both corn and wheat stocks were quite a bit lower than a year ago, supporting the spot futures.