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March 24, 2018
Ben Potter recaps the Farm Futures planting intentions survey. The survey respondents indicated they planned to plant 90 million acres of corn, 91.5 million acres of soybeans, 46.2 million acres of wheat, 5.9 million acres of sorghum and 13.3 million acres of cotton. Corn acreage is predicted to decline, the other commodities are showing an increase in acres.
Trump imposes $60 billion in tariffs to China. Soybeans could be a retaliation target, but aren’t yet. Pork was a retaliation target and lost more than 4% today.
Trump signed a spending bill that includes money for conservation and a Section 199A fix.
There were two large export sales reported this week. South Korea and Peru bought corn.
Get ready for the next big report from USDA. Prospective Plantings report is set for release at noon ET March 29. Come to farmfutures.com to find out what happened and how the markets reacted.
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