There will be a lot of data released from the USDA today, but planted and harvested corn and soybean acres are top of mind for traders. INTL FC Stone Chief Commodities Economist Arlan Suderman says there could be a reduction in harvested acres. Suderman is also wary of the yield data. “The yield estimates are calculated differently this year than previous August reports. Whatever today’s yield numbers are, expect September’s numbers to be different.” Suderman’s pre-report estimate is 85.6 million planted acres for corn and 76 million acres harvested. For soybeans, the estimate is 82.8 million planted acres and 80.5 million harvested acres. “That’s fairly close to other producer survey numbers I’ve seen, though the range of trade expectations are wide. Anything could happen in this report.” We’ll also get a look at prevent plant acres, but Sudermann says it won’t be complete data.
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