Grain prices could face an uphill battle after this week. A survey by Farm Futures shows an increase in corn and winter wheat acres this year.
The group talked to nearly 500 producers about their intentions this year, and they found a 1.5 percent increase in corn acres, which is compared to USDA’s numbers released during the Ag Outlook Forum. Growers indicated intentions for a little more than 38 million acres of winter wheat. Added acres will keep supplies high, and the group says prices will be limited without any additional demand.
USDA will release their Prospective Plantings Report at 12:00 PM Eastern on Thursday because of the Good Friday holiday.
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