Glacier FarmMedia – The United States Department of Agriculture released its prospective plantings report and its March 1 grain stocks report earlier on Tuesday. As a result, the Chicago Board of Trade reacted bullishly to both.
SOYBEANS on the Chicago Board of Trade gained more than 10 cents per bushel after the USDA estimated fewer planted acres than expected.
Projected soybean plantings for 2026 came to 84.7 million acres, slightly lower than the trade’s pre-report estimate of 85.55 million acres, but an increase of 3.48 million acres from last year.
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Soybean stocks as of March 1 were 2.104 billion bushels, an increase of 195 million from last year and up 37 million from the trade’s pre-report estimate.
WHEAT futures were supported by incoming dry weather and fewer projected acres.
U.S. all wheat planting intentions for 2026 were 43.78 million acres, 1.01 million below the trade’s estimate and 1.554 million less than last year.
U.S. wheat stocks as of March 1 totalled 1.30 billion bushels, down 10 million under the trade guess but up 63 million from one year ago.
The Kansas state crop progress report showed winter wheat conditions at 40 per cent good to excellent, down six points from the previous week. The USDA’s first crop progress report will be released on Monday.
Romania’s ag ministry reported its wheat harvest at a record 12.69 million tonnes.
Tunisia tendered for 100,000 tonnes of soft milling wheat.
CORN made modest gains on Tuesday and halted a three-session downturn in the process.
U.S. planting intentions for 2026 totalled 95.34 million tonnes, 970,000 tonnes above the trade’s estimate but 3.43 million lower than last year.
U.S. corn stocks as of March 1 were 9.02 billion bushels, 84 million below the trade guess, but an increase of 873 million bushels from last year’s total.
