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USDA Acreage report could include bearish revisions
USDA will provide a clearer picture of U.S. crop acreage at the end of the month.
Iowa State University Extension economist Chad Hart says he expects to see an increase to overall planted area.
“To me, the big question coming out of the March prospective plantings report was that 6 million acres that sort of fell out of principal crop production. I think we will see some of that come back in.”
He tells Brownfield that would have a bearish effect on prices.
“And my fear is it’s a combination of corn and soybeans that captures it.”
The USDA acreage report is out at 11AM Central on June 28th.
Tags: acreage report, commodity prices, Corn, Crops, Farm Income/Prices, Iowa, Iowa State University Extension, Planting, Risk Management, Soybeans, USDA
