USDA will release the 2007 Prospective Plantings report and March 1 Grain Stocks on Friday, March 30 at 7:30 am CT. Trade estimates were gathered by Dow Jones Newswire. The average estimate for corn is 88.1 million acres with trade guesses ranging from 86.3-90.8 million. In 2006, corn acreage was 78.3 million. Soybean estimates average 69.2 million acres, with estimates ranging from 65.9-70.8 million. Last year's soybean area was 75.5 million acres. Spring wheat estimates average 13.7 million acres, ranging from 12.5-14.4 million. Acreage is expected to decline from the 14.9 million seeded last year.



March 1 grain stocks are expected to show a decline in corn and wheat supplies, but larger soybean stocks than a year-ago. The average estimate for corn is 6.023 billion bushels versus 6.987 billion at the first of March last year. The soybean number is expected to be around 1.801 billion bushels compared to 1.669 billion a year-ago. Wheat stocks are pegged at 881 million bushels against 972 million bushels on March 1, 2006.