The March Planting Intentions Report is always one of the biggest reports of the year, with it being the first real insight into how many acres of each crop will get planted, and where.
Given all of the data released, and all of the graphics we compiled to better understand and demonstrate, we thought we would go with a graphical post rather than a word salad on this one.
For full context and to hear Richard Brock’s comments on Planting Intentions, Grain Stocks, and Quarterly Hogs and Pigs, Premium Subscribers can watch Tuesday’s Market Edge HERE.
Quick Highlights:
- As expected: USDA confirmed a shift from corn back to soybeans, in line with our expectations and sliggtly less than average trade estimates.
- Wheat acres would be the lowest since 1919.
- Cotton acres stay surprisingly high, near high end of estimates
- Sorghum fell below the lowest trade estimate
- Rice came it at the lowest trade estimate
