Note: Grain and soy futures markets (and WPI) are closed tomorrow, 29 March, for the Good Friday holiday. They will reopen Sunday evening.

General Comments Traders generally approached today's quarterly stocks and planting intentions reports with a bullish bias, but USDA's reports were distinctly bearish. A detailed analysis of the report numbers was not required to reach bearish conclusions. The reports were issued at 12 p.m. EDT. As soon as 1 March corn stocks of 5.4 billion bushels flashed across screens a nano-second later, electronic sell orders flooded into the market, pushing corn prices down the 40-cent daily trading limit within seconds. The "get me out" mentality was overwhelming. Corn stocks that were about 400 million bu...