Corn Acreage Down but More than Expected

The USDA’s acreage report last week showed that corn acreage is down three percent to just under 91 million acres, a surprise to many analysts because in February a report indicated there was supposed to be an even bigger drop.

USDA Chief Economist Rob Johannson said corn stock numbers are at their third highest ever up 11 percent over last June.

“[There] could be a suggestion that prices may see a little bit of a downward movement.”

Prices dropped slightly Friday for the 11^th time in 15 years after the June report.