Market News & Headlines >> Large Corn, Soy Acreage Expected
USDA’s annual Prospective Plantings report due out at 11:00 a.m. on Wednesday is expected to show that U.S. producers intend to plant more corn and soybean acres than they did in 2020, when wet spring conditions prevented planting of significant acreage for the second straight year.
However, corn planting intentions are expected to come in well below the big number of nearly 97 million acres that producers reported in March of 2020, while soybean intentions are expected to be up sharply from last March.
In contrast, planting intentions for cotton, spring wheat and rice are expected to decline in the face of higher corn and soybean prices.
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U.S. PLANTING INTENTIONS in mil. acres |
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Sources USDA: NASS, Bloomberg |
TRADE AVG. EST. |
TRADE RANGE |
USDA MARCH 2020 |
USDA 2020 Final |
|
CORN |
93.100 |
92.000-94.500 |
96.990 |
90.819 |
|
SOYBEANS |
90.100 |
88.900-91.300 |
83.510 |
83.084 |
|
ALL WHEAT |
44.900 |
43.000-46.400 |
44.655 |
44.349 |
|
WINTER WHEAT |
31.800 |
30.900-32.200 |
30.775 |
30.415 |
|
SPRING WHEAT |
11.700 |
11.000-12.700 |
12.590 |
12.250 |
|
DURUM |
1.600 |
1.300-1.800 |
1.290 |
1.684 |
|
ALL COTTON |
12.100 |
11.400-13.000 |
13.703 |
12.093 |
|
RICE |
2.700 |
2.500-3.000 |
2.847 |
3.036 |
