USDA Report data shocks markets
The U.S. Department of Agriculture's (USDA) annual prospective planting survey, which showed prospective planting numbers coming in millions of acres lower than many analysts expected, roiled markets last week, temporarily sending corn and soybean prices sharply higher.
Bob Linneman, of Kluis Advisors, put it this way to Successful Farming: “(Nationally) corn acres were reported at 91.1 million acres, while 93.2 had been expected. Soybeans were pegged at 87.6 million acres, compared with 90 expected ... If weather permits, and considering current prices of corn and soybeans, we should expect to see farmers plant as many acres as possible this...
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