An ag economist says the market will be closely watching crop acreage numbers for trading signals the rest of June.
The University of Missouri’s Ben Brown said he’s curious to see where USDA pins corn and wheat acreage at the end of the month in its acreage report.
“I think those two will be very interesting numbers,” he said. “The trade will start anticipating what those could be in the weeks ahead and I think that’s going to overshadow any of the conditions reports.”
Brown said while planting progress has risen sharply in the last couple of weeks, that could mean planted acreage is decreasing rather than a quick planting pace coming off planting struggles in the northern plains and parts of the Cornbelt.
