date:Jun 30, 2012
at acreage at 56.0 million vs. the average trade estimate of 56.851 million and the March estimate of 55.908 million.
U.S. Grain Stocks
U.S. corn inventories on June 1 fell to the lowest level since 2004, and U.S. soybean inventories on June 1 are the highest since 2008, according to the USDA data.
For corn, U.S. stocks were estimated at 3.148 billion bushels, down from the USDA's March estimate of 6.009 billion bushels.
Soybean inventories, as of June 1, are estimated at 667 million bushels