Ethanol may get moved by today’s grain report. In the kick-off to the U.S. grain crop the Planting Intentions report is expected a movement of farmers back to beans away from corn. Farmers had been planting a lot of corn as ethanol demand was soaring. Yet with soybean prices and demand very strong one would expect to see more beans over corn. We also should see more acres planned as fields that were lost to flooding should return. On top of that we will get export inspections which have been on signaling strong demand.
Grains stock expectations for corn 7.099 million bushels and planted acres of 92,748; for beans stocks at 989 billion bushels and planted acres of 989 million. Wheat stocks are expected at 1.042 million bushels and acres at 42.157 million acres for all wheat at 56.277.