Managing for Profit

Analysts gearing up for Thursday USDA reports

 

USDA’s Prospective Planting and Quarterly Stocks reports come out tomorrow, with pre-report estimates for soybeans at more than 91 million acres, and corn expected to fall short of 90 million.

While most traders anticipate the forecast will be close to these estimates, the question is how much deviation will it take to move the market up or down?

North Star commodity chief analyst Mark Schultz says both crops have bullish and bearish ranges, and suggests the quarterly stocks number could be more significant to the market.