SAN FRANCISCO, Calif. (RFD News) — Trade is preparing for USDA’s Final Acreage Report.
Josh McClure with Farmers Business Network (FBN) says producer survey responses indicate most farmers have not made any big changes to their planting intentions.
“First and foremost, most folks didn’t actually change. Eighty-one percent of corn respondents and 85 percent of soybean respondents were not making any changes at all to those crops. However, the spots where we did see the changes were primarily that corn acres should come down while soybeans go up. It’s not one for one, though.”
McClure says they’re preparing for as many as 200 million bushels of corn to disappear.
“Our producers are telling us that they’re going to be planting roughly 1.2 million acres fewer than what the USDA suggested, effectively cutting off something like 180 to 200 million bushels of production here in the United States. This would pull corn acres down to 94.1 million acres from that March number of 95.3.”
He says a couple of areas that could see some big changes include the High Plains of Nebraska, the Dakotas, and parts of Missouri.
USDA’s Acreage Report is scheduled for release on Tuesday at 12 PM ET.
