Report Day!! Today is the big day for the March Planting Intentions Report. This report has created some strong moves in the market on the day of and the week after. Believe it or not, this report has been bullish for corn more often than not. The stocks report is also a driver as the USDA measures how fast corn, soy and wheat use.
As for acres, I think we see a close to 50/50 split between corn and bean acres. I think this is what the survey will say, not actually the way it will turn out. There have been prevent plant acres for corn that are going to find a way back into production. Also, it seems like inputs are easier to get and are more affordable. Many producers think they have a better chance to make money growing corn. I think the final number for corn will end up being larger than today’s figures baring good planting weather.
US Planted Acres (million acres)
|March 31st||Average Est.||USDA 2022|
March 1st Stocks (million bushels)
|March 31st||Average Est.||USDA March 22||USDA Dec. 22|
Check back after 11:00 am for the numbers.
Have a Safe Day!