The USDA Ag Outlook projections call for 92 million acres of corn, a yield of 181 bushels per acre and ending stocks of 1.96 billion bushels. For soybeans the report calls for 88 million acres of soybeans, a yield of 51.5 bushels per acres and ending stocks of 305 million bushels. This is not a survey-based projection and will change in the March 31 report. In my initial thoughts, I view this as long term bearish for corn, and bullish for soybeans. I will have more analysis in the weekly report.
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