Grain markets await supply and demand report

Today’s report will primarily focus on the expectations for how much stock will be left over at the end of the 2018-19 crop season. Surveys carried out by Bloomberg and Reuters are both looking for a  jump in corn stocks, thereby potentially adding to the pressure that was seen after the recent prospective planting update reported a big increase in the expected acreage that US farmers will allocate to corn this spring. 

In that report soybeans and wheat acreages were both reduced with the US-China trade war having left a huge overhang of soybeans stock while stiff competition from Russia and Europe combined has created a challenge for wheat. Today’s stock report is looking for small increases in both crops compared with last month's update.