The day ahead of the report has played out as expected with corn and beans chopping on either side of unchanged with wheat marginally higher on small short covering. The report itself will focus on row crop and spring wheat acreage with corn expected at 89 million and beans at 78 million. Any variation from these levels will bring flat price movement.
Volatility has strengthened in front month beans with shorts covered while ck and wk vol are actually weaker in spite of solid buying. It looks like locals are getting out.
Overall a quiet session with the report, month end and quarter end tomorrow.
