The very wet conditions across the eastern Corn Belt have caused other problems in addition to lost acres. Corn is or has been standing in water in many areas, and plant development has been stunted.Last week's USDA acreage and quarterly stocks estimates coupled with some ongoing weather problems across the eastern Corn Belt will tighten the U.S. and world corn balance sheets. U.S. corn carry-in supplies will likely be trimmed by the 100 million or so bushels lost in the 1 June corn stocks number. The 300,000 acre reduction in planted acres from the March planting intentions numbers will also have to come out of the planted/harvested acres numbers. In addition to the decrease in planted acres, we are also assuming the super wet conditions a...

TAGS – Feed Grains, Wheat, Farm Inputs, North America