Bigger corn acres on tap at the end of the month?

IHS Markets raised its corn acreage forecast to 90.96 million acres and dropped its soybean acres to 88.73 million acres. We have thought for some time that corn prices after March intensions and we still are waiting to see where the PP acres shake out up north but we should have higher planted acres of corn than 89.5 million and soybeans should be closer to 90 million. The pieces of the puzzle will continue to shift and once we approximate acres then we will move on to yield. Will we be able to achieve 177 bu/ac or better when we really need it and will we have enough soybeans to satisfy demand next year with 90 million acres or less? That is the story that will play out this summer and fall but right now the heat is on and with limited rains in the forecast traders want to own corn and that is pulling the soybean market with it so far. May see some profit taking today but would think the bulls would control the action today until a milder forecast shows up so watch 8.00 & 17.35 in July contracts for resistance and 7.50 & 15.75 in new crop contracts. NFC Grain Comments Options -6.17.22