Grains/USA: USDA projection for corn area is below expectations

Maize (Corn)

United States

Market & Price Trends

Published Mar 29, 2024

Tridge summary

The USDA's planting intention report for the 2024/25 season indicates a shift in crop acreage, with corn acreage projected to decrease to 90 million acres, falling below analysts' expectations and down from the previous season's 94.641 million acres. In contrast, soybean acreage is set to rise to 86.5 million acres, slightly surpassing analysts' forecasts and up from 83.6 million acres last season. Wheat planting is also expected to decline, with projections showing a decrease to 47.5 million acres from 49.575 million acres, which is slightly below the anticipated figures. These changes reflect significant adjustments in agricultural planting strategies for the upcoming season.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Washington, 03/28/2024 - The United States Department of Agriculture (USDA) projected this Thursday a corn area that was below analysts' expectations. In its planting intention report, released recently, the US government estimated corn acreage in 2024/25 at 90 million acres (36.42 million hectares). In the 2023/24 season, 94.641 million acres (38.3 million hectares) were sown. Analysts consulted by the Wall Street Journal expected a higher number, of 92.032 million acres (37.24 million hectares). This Thursday's planting intention report is the first of the year based on surveys of producers. As for the area planted with soybeans, the USDA projected 86.5 million acres (35.01 million hectares), an increase of 3.47% compared to the previous season, when 83.6 million acres (33.83 million hectares) were sown. of hectares). Analysts had expected a slightly lower figure of 86.309 million acres (34.93 million ...

Source: Broadcast