USDA Planting Report - Beans 3 Million Below Expectations
The eagerly awaited USDA planting intentions report pegged soybean acres more than 3 million below the average trade expectation at 76.024 million acres, an increase of just a nominal 300,000 or so and only just better than the lowest trade estimate of 75.9 million.
Corn acres came in a little higher than expected at 84.986 million, a reduction of around 1 million from last season.
Wheat acres came in right on the money at 58.638 million, around 3.5 million down on last season.
Corn acres came in a little higher than expected at 84.986 million, a reduction of around 1 million from last season.
Wheat acres came in right on the money at 58.638 million, around 3.5 million down on last season.
Planting Intentions
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USDA Avg Est Range 2008
Corn 84.986 84.548 81.4-89.0 85.982
Soybeans 76.024 79.251 75.9-81.5 75.718
All Wheat 58.638 58.856 56.7-63.0 63.147
