“The USDA Planted Acreage Report stated that planted corn acreage was at 95.34 million acres. This total was slightly above market expectations and in line with the March estimate. Total corn acreage was down 3.5% from last year’s total,” John Heinberg of Total Farm Marketing said. “Quarterly Grain stocks estimated current corn supplies at 5.295 billion bushels, when is one of the largest totals going into the final quarter over the past 40 years. This total was below market expectation by 105 mb, which could reduce final old crop carryout slightly. Current U.S. corn stocks are still 14% larger than last year.”