As we progress through the month of March, the U.S. planting season will start to dominate trade discussion.
The most talked about aspect of the season will be the acreage debate as we continue to see analysts release projections. Many of these forecasts have corn acres declining from last year and soybeans increasing. Analysts are also expecting to see a bump in wheat acres this year. While this is all possible, the real question is how many acres may rotate from their initial intentions.
The most noted change this year is expected to be on corn plantings. Last year, farmers seeded 93.4 million acres to corn. Input costs have risen considerably since last year, and analysts believe this will reduce corn acres.
A few projections have U.S. corn plantings falling as much as 3 million acres from last year's total. While this is possible, it seems like a reduction of that size is unlikely given actual farmer reports that corn still...