CBOT corn closes higher following USDA data release
CHICAGO, March 31 (Reuters) - Chicago Board of Trade corn futures firmed on Monday as the U.S. Department of Agriculture estimated U.S. farmers are preparing to increase corn plantings by 5% in 2025 to the highest in 12 years, but corn stocks fell from the previous year, in line with trade expectations.
CBOT May corn CK25 settled up 4 cents at $4.57-1/4 a bushel.
U.S. farmers are set to plant 95.326 million acres of corn in 2025, up from 90.594 million last year and the highest since 2013.
Analysts polled by Reuters estimated that the number on average would be 94.361 million acres.
In a separate quarterly grain stocks report, the USDA said U.S. corn stocks stood at 8.151 billion bushels on March 1, down from 8.352 billion a year earlier, but exactly in line with an average of trade expectations at 8.151 billion bushels.
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