Traders and food buyers are waiting in anticipation for the USDA Planting Intentions report to be released Thursday, March 31. The report, which will guide trader decisions, and move the market, could have an increasing impact on the commodity markets if they show bullish numbers.
Rising concern about food costs and availability has the U.S. ag industry under more scrutiny than ever. This new report will shine a spotlight on the ag industry as the ag agency reveals what it has learned from the data.
Predictions for corn acres range as high as 93 million for 2011. The Farm Futures survey shows corn at 91.4 million acres while USDA released a 92 million-acre figure during its Outlook Conference in Febraury. Traders, and farmers, will count the hours until those numbers are released.