Market News & Headlines >> USDA Expected to Report Larger Corn, Soy Acres
USDA is expected to peg planted acreage for both corn and soybeans above the March planting intentions and report lower plantings for spring wheat and cotton when it releases its annual Crop Acreage report on Wednesday morning.
Trade estimates of U.S. corn plantings average 93.8 million acres in a range from 92.0-95.8 million, according to a Bloomberg News survey of 30 analysts. That compares with corn planting intentions of 91.1 million acres according to USDA’s March 31 Prospective Plantings report.
Pre-report estimates of U.S. soybean plantings average 89.1 million acres in a range from 88.0-90.6 million acres compared with the March planting intentions of 87.6 million acres reported by USDA.
On average, USDA is expected to report U.S. all-wheat plantings of 46.0 million acres, with trade estimates ranging from 45.0-46.9 million acres compared with USDA’s March estimate of 46.4 million acres. Pre-report estimates of spring wheat/durum seedings average 13.0 million acres in a range from 11.9-13.8 million compared with USDA’s March planting intentions of 13.2 million acres.
Pre-report estimates of U.S. cotton plantings average 11.8 million acres in a range from 10.8-12.3 million compared with March planting intentions of 12.0 million acres.
Trade estimates of sorghum plantings average 7.1 million acres in a range from 6.5-7.5 million acres compared with March planting intentions of 6.9 million acres.