USDA Reports on Grains

Tweets in the past few minutes from Arlan:

USDA -
Winter wheat seedings 37.1 mln acres vs 43.3 last year and expectations of 40.9 mln
Total corn prod 13.151 bln bu vs 12.921 bln in Nov and expectations of 12.819 bln
Soybean production 3.361 bln bu vs. 3.319 bln in Nov and expectations of 3.337 bln
Dec 1 corn stocks 10.934 bln bu vs expectations of 10.663 bln; soybeans 2.337 bln bu vs expectations of 2.411
Ending stocks vs prev. mo; corn - 1.764 vs 1.675, beans - 0.245 vs 0.255, wheat - 0.976 vs 0.900 bln bu
Early call from CBOT corn, beans dn 10-15; wheat steady to up 5; However, bearish outside mkts won't help; Brace for a ride today.
USDA to resurvey producers in key states and update production estimates on March 10. "Expected production" included from these states
Perspective: USDA's Jan. soybean ending stocks estimate was too high in 13 of past 14 yrs by avg of 54 mln bu.