 Wheat acreage is pegged at 47.2 million acres. That's a 5% drop from last year. And again, it's below that March estimate. And similar to soybeans, this figure was lower than traders were anticipating. In addition to the acreage report, the USDA also released its quarterly grain stocks. This report provides a snapshot of the grain stocks on hand as of June 1st, 2024. And here are some of the key findings. U.S. corn stocks were reported at 4.993 billion bushels,