Agriculture News
How USDA handles usage forecasts in the face of the trade/tariffs turmoil adds some uncertainty to what’s normally a uneventful report.
Corn and beans remain volatile amid tariff announcements.
Weekly wheat sales during the week ended March 27 were more than triple the previous week’s figure, exceeding the pre-report range, while corn and soybean sales rose 13% and 21%, respectively.
USDA estimates 95.326 million corn acres will be planted this spring, nearly a million acres above the average pre-report estimate. Soybean and wheat plantings were slightly below expectations. March 1 corn stocks met analysts’ expectations, while wheat and bean stocks were slightly above.
Markets keened in on Monday’s reports for most of last week with fresh catalysts at hand.
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USDA will issue its Prospective Plantings and Grain Stocks Reports
Preliminary survey results find stronger pasture and hayland values.
Grains weaken ahead of Monday’s USDA reports, looming tariffs.
All categories came in below the average pre-report estimates.