The trade is leaning somewhere around 86 million acres of soybeans and 91.5 to 92 million acres of corn ahead of the upcoming USDA Prospective Plantings report. That’s according to Zaner Ag Hedge Chief Marketing Strategist Ted Seifried, who says the estimates don’t factor in the recent weather challenges. There can always be changes. “We know the recent flooding is not good, and we don’t know how quickly we will be able to recover,” says Seifried. “I’ve heard people talk about three million acres of corn lost. I do think that’s excessive, but it would be difficult (even under good conditions) to be ready for planting..” Seifried says there will likely be a strong corn crop for the U.S. The USDA Prospective Plantings Report will be released Friday at 11 a.m. Central Time.
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