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U.S. Prospective Plantings Estimates

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    #16
    Dont quite get this commnet below. Acres seem to add up to me beans corn down wheat cotton up. Balanced

    WINNIPEG (CNS Canada) – Two much anticipated reports from the United States Department of Agriculture (USDA) sent markets soaring and left traders speechless in the last trading day before the Easter holiday.

    The USDA released its quarterly grain stocks and prospective plantings reports at 11 a.m. CDT on March 29. Traders had been expecting corn acreage to be at 80.3 million acres and soybeans at 90.9 million. Instead the USDA set corn at 88 million acres and soybeans at 89 million acres.

    “The question is with all wheat and cotton (plantings) only up 2.2 million acres, where’s all this acreage? So that’s going to be a question people will be thinking this long weekend,” said Scott Capinegro at Highland Trading.

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