A market analyst says the planted acreage estimates from USDA at the Ag Outlook Forum haven’t had much of an impact on the grain markets.
USDA said U.S. planted corn acres are expected to be 91 million compared to 94.6 million last year, wheat acres at 47 million compared to 49.6 million last year and soybean acres at 87.5 million, a slight increase from last year’s 83.6 million.
However, Tim Marsh with Summit Commodities says the possibility of fewer corn and wheat acres and more soybean acres will capture the attention of a few traders until USDA releases its prospective plantings report at the end of March.
