Your Pro Farmer newsletter (April 2, 2022) is now available

USDA shocked traders by estimating farmers would plant more acres to soybeans than corn in 2022. That triggered a bearish reaction in soybean futures that may lead to a shift in momentum. Focus will now turn to spring weather and price action as traders add and subtract acres from USDA's March benchmarks. Meanwhile, March 1 grain stocks surprisingly didn’t have any real surprises for a change. USDA’s Hogs & Pigs Report showed the U.S. hog herd contracted more than traders expected and there are no signs of expansion. But the market had a bearish reaction to bullish data, which typically isn’t a good sign. High gas prices are hurting consumers, so the Biden administration is planning the largest-ever release of emergency oil reserves and may lift summer sales restrictions on E15. But high gas prices aren’t as much of a concern as tight diesel supplies, especially for farmers. We cover all of these items and much more in this week's newsletter, which you can download here.