U.S. Prospective Plantings Estimates

[errolanderson]

Corn price surge triggered a 'limit down' move in feeder cattle today. Cattle feeding wreck now in-progress . . . .

[blackpowder]

Someone care to comment on the extra spring wheat acres?
The moisture levels in those areas? Price risk for us moving into spring rally season.
Drought risk for above? First hand accounts?
Just getting a handle on target for new crop spring sales.
Often have 2/3s of the physical sold by mid July.

[ajl]

Corn number is low. Likely want to get price protection on corn soon. The other numbers are likely fairly accurate.

[helmsdale]

Minneapolis getting gutted... The chart looks like shit. Plumbed new lows @ $5.75 today. All wheat acreage intended will be 2nd lowest on record since 1919? If this number is a 3% increase over 2017, i'd say it's fair to say that last year, and this upcoming year are estimated to be the 2 lowest seeded acreages since 1919, yet Minneapolis dumps? Durum acres estimated at 2M acres down 13% from last year, yet Paterson sends out a 5 exclamation point email this morning saying price is dropping again? Hard to find a bright spot going into next year... Dump more fertilizer and inputs into it, and pray to god for rain cause bushels are gonna have to cover it im thinking!

[helmsdale]

Big asterisks behind lentil and pea seeding intentions as well...
-Lentils if intended acres are realized will be the third largest acreage on record.
-Peas if intended acres are realized will be the 6th largest since 1929

[malleefarmer]

Dont quite get this commnet below. Acres seem to add up to me beans corn down wheat cotton up. Balanced

WINNIPEG (CNS Canada) – Two much anticipated reports from the United States Department of Agriculture (USDA) sent markets soaring and left traders speechless in the last trading day before the Easter holiday.

The USDA released its quarterly grain stocks and prospective plantings reports at 11 a.m. CDT on March 29. Traders had been expecting corn acreage to be at 80.3 million acres and soybeans at 90.9 million. Instead the USDA set corn at 88 million acres and soybeans at 89 million acres.

“The question is with all wheat and cotton (plantings) only up 2.2 million acres, where’s all this acreage? So that’s going to be a question people will be thinking this long weekend,” said Scott Capinegro at Highland Trading.