USDA just dropped the June acreage report. Hereafter few comments:

Corn: acres basically unchanged from March intentions and above trade expectations. The more interesting number is June 1 stocks at 5.29 billion bushels, below estimates, which implies demand has been stronger than the market expected. A small bullish signal.

Soybeans:acres sligthly above both March intentions and trade guesses so more supply coming, but domestic crush demand remains strong. A mixed picture.

WHEAT stands out!
Acreage dropped to 42.7M, below March and below trade estimates, continuing a multiyear downtrend.
Old-crop stocks also came in light at 920M bushels vs 934M expected. Both acreage and stocks on the bearish supply side. Market reacted accordingly.

The wheat supply tightness is the most interesting number here. Worth watching...

Curious to know if someone is considering to open a spread position after this report.

Hi @SpreadsEnjoyer


@myrrdin used to post about agricultural futures. Not sure how active he is these days but you way want to check some of his posts out.