USDA acreage report due soon
We are moments away from one of the most highly-anticipated reports of the year.
USDA has surveyed nearly 90,000 produces for the acreage report. The department’s crop chief explains why it is important and what to look for.
“Not only does it give us that first look at actual acreage planted, it also gives us our first survey-based look at acres expected to be harvested this year, as well... what is so important about establishing these acreage numbers is that it gives you a baseline toward production as well,” Lance Honig states.
In March’s survey, farmers said that they expect to plant far fewer acres of corn and soybeans than anyone expected.
At the time, USDA’s chief economist said that the economic incentives were there.