Futures Broker / Grain Calls and News

WHEAT – 5 to 7 cents per bushel higher.
* USDA reported June 1 U.S. wheat stocks at 973.4 million
bushels, above the average trade estimate of 940 million.
* USDA reported U.S. 2010 all-wheat acreage at 54.3 million
acres, slightly above an average of analyst estimates at 53.8
million.
CORN – 15 to 20 cents per bushel higher.
* Mixed opinions, with some calls as high as the 30-cent
limit after USDA pegged U.S. 2010 corn acreage at 87.9 million
acres, below a range of trade estimates from 88.1 million to
90.15 million.
* USDA also reported June 1 U.S. corn stocks at 4.310
billion bushels, below an average of analyst estimates at 4.598
billion.
SOYBEANS – 7 to 10 cents per bushel higher.
* Nearby, old-crop contracts expected to soar against back
months after USDA reported U.S. June 1 soybean stocks at 571
million bushels, below a range of trade estimates for 580
million to 620 million.
* USDA reported U.S. 2010 soybean acreage at a record-large
78.9 million acres, above an average of analyst estimates at
78.2 million.