Corn tumbles to contract lows on USDA acreage data

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Corn falls connected USDA acreage information

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Wheat down 16% successful June, biggest monthly driblet since mid-2022

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Soybeans emergence connected USDA information

(Recasts throughout, updates prices, expert quotes, bylines, changes dateline from Singapore/Paris)

By Renee Hickman

CHICAGO, June 28 (Reuters) - Chicago September maize plunged connected Friday to declaration lows aft U.S. Department of Agriculture information showed acold much acres planted with the atom than the commercialized expected owed to favorable upwind this spring.

But soybeans strengthened connected little acreage than expected, portion wheat fell again, having recorded its biggest monthly autumn since 2022.

"There's thing affable for corn, but beans came successful adjacent to the mean commercialized guess," said Jim Gerlach, president of A/C Trading.

Plantings of maize were 91.5 cardinal acres and soy plantings were 86.1 cardinal acres, the USDA said. Analysts expected 90.3 cardinal acres of maize and 86.8 cardinal acres of soybeans, according to a Reuters survey.

The most-active maize declaration connected the Chicago Board of Trade (CBOT) was down 18-1/2 cents to $4.04 a bushel, arsenic of 11:43 CDT (1643 GMT). September maize concisely fell beneath $4 a bushel. Soybeans added 10-3/4 cents to 11.15-1/2 a bushel and wheat mislaid 11-1/2 cents astatine $5.68 a bushel.

Meanwhile, U.S. stocks of corn, soybeans and wheat arsenic of June 1 were higher than the aforesaid clip past year, the USDA said. U.S. maize growers were storing the astir of the harvest connected workplace for this constituent successful the twelvemonth successful much than 3 decades.

Wheat continued to tank, having dropped adjacent to 16% truthful acold this month, the biggest diminution since June 2022.

"There's thing bullish successful wheat, and it's going down with the maize market," said Sherman Newlin, commodity broker astatine Risk Management Commodities.

Outside of the U.S. market, wheat planting for the existent harvesting play successful Argentina has besides precocious rapidly implicit the past week owed to caller rainfall implicit parts of the country's main farmland, the Buenos Aires Grains Exchange said successful a play study published connected Thursday.

The European Commission connected Thursday raised its forecast for the European Union's main wheat harvest this twelvemonth and for EU wheat exports some successful the existent and adjacent season. (Reporting by Renee Hickman successful Chicago; Additional reporting by Naveen Thukral; editing by Diane Craft )