Darrel Good and Scott Irwin reviews the USDA estimates released on the previous day and the implications for both old crop and new crop balance sheets for corn and soybeans. The USDA’s estimate of June 1 stocks of corn and soybeans will provide a clearer picture of total 2015-16 marketing year consumption and ending stocks. The report will be especially important for projecting the magnitude of domestic corn consumption for feed use. The magnitude of planted acreage, along with our early season yield expectations, will clarify prospects for the size of the 2016 corn and soybean crops with implications for the 2016-17 balance sheets. Implications for prices during the summer months as well as the 2016-17 marketing year will be discussed.