I always find it interesting every couple of days to surf through the Ag Chat groups online, as it helps to give you a flavor of the crop conditions throughout the Midwest. However, some of the posts tend to portray some of the “worst case scenarios”, but it still gives you direct insight into how the crops are developing across the country. Below are some pictures from different posts and they all tend to be in line with what everyone in the market is already talking about, with crops in some areas doing extremely well, while the western/northern regions continue to contend with excess moisture.
There is no doubt corn acres were reduced this spring because of the extremely wet conditions, but the biggest question is by how many acres. The USDA will attempt to come up with a number when the USDA acreage report comes out on June 28. Current expectations are for U.S. corn planting to come in at 95.431 million acres vs. the March estimate of 97.25 million. Soybeans acres are being forecasted at 77.811 million acres vs. the March estimate of 77.13. However, even when the numbers are released some may question the accuracy of the numbers, since planting was so delayed.
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