Written Commentary
Ag Market View for July 8.25
July 8, 2025
June 30.25 USDA Acres/Stocks – In Line With Expectations
USDA QUARTERLY ACREAGE/STOCKS HIGHLIGHTS
Today’s USDA data was largely in line with expectations.
Corn:
- June 1st stocks 4.644 bil. bu. down 7% YA, in line with expectations
- June Acres 95.203 mil. down 123,000 from March Intentions, 150,000 below expectations
- Acres down 300k in NE, 200k in KS, 150k in TX, 100k in IL and MN
- Acres up 100k MI, MO and SD
Soybeans:
- June 1st stocks 1.008 bil. up 4% YA, 28 mil. above expectations
- June Acres 83.380 mil. down 115k from March Intentions, 275,000 below expectations
- Acres down 200k in IN, MS and OH
- Acres up 400k in ND, 150k WI, 100k in KS and SD
Wheat
- June 1st stocks at 850 mil., well above 696 mil. from YA, 14 mil. above expectations
- All Wheat acres at 45.478 mil. up 128k from March intentions, in line with expectations
- Winter wheat acres at 33.325 mil. up 10k from March, slightly above expectations
- Spring wheat acres up 25k from March, durum up 93k from March
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