MARCH’S PROJECTIONS FOR ACREAGE PLANTED AHEAD

The imaginary basketball arena is modelled and rendered.

(SPRINGFIELD) With some warmer temperatures the last couple of weeks, along with the new month of March, last week’s USDA Agricultural Outlook Forum helped provide fresh projections for acreage to be planted in the season ahead. Although the acreage switch was highly anticipated, it still served as initial pressure on corn prices and support for soybeans with an increase in corn acreage expected this year over last year, from 90.6 to 94 million acres, while soybeans are forecast to fall from 87.1 to 96.1 million acres. Like for corn, it was a bearish influence for wheat prices with last year’s growth from 46.1 to 47 million acres.