Home » Lower corn planting intentions send futures higherPhoto: Sosland Publishing Co.
Recap for March 28
- Corn futures Thursday posted their largest one-day rally since July after the USDA estimated March 1 corn stocks and projected 2024 corn plantings below trade estimates. Winter wheat futures followed corn higher even as all-wheat stocks and plantings slightly topped expectations. Meanwhile, spring wheat futures took a downturn after spring wheat and durum planting expectations topped projections. May corn jumped 15¼¢ to close at $4.42 per bu. Chicago May wheat added 12¾¢ to close at $5.60¼ per bu. Kansas City May wheat added 7¢ and closed at $5.85¼ per bu. Minneapolis May wheat dropped 6¢ and closed at $6.45 per bu. May soybeans lost 1¢ to close at $11.91½ per bu; the September future and beyond were higher. May soybean meal was down $1.30 to close at $337.70 per ton;…