USA 2024/25: With corn at a loss and soybeans at a profit, markets await new area data from the USDA
Maize (Corn)
Published Mar 28, 2024
Tridge summary
The USDA is poised to release pivotal reports on March 1, 2024, detailing quarterly stocks and planting intentions for the 2024/25 harvest, with market analysts predicting an increase in soybean planting area and a decrease in corn and wheat due to soybeans' higher profitability. This comes amid a backdrop of fluctuating crop prices, with corn and soybeans currently lower than last year's figures. The upcoming reports are eagerly awaited for their potential impact on market trends, especially considering historical data from the Chicago Board of Trade that shows years when corn planting exceeded expectations often led to significant market price adjustments. These developments underscore the critical role of government estimates in agricultural market dynamics.
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
Thursday (28) will be marked by the arrival of two new important bulletins from the USDA (United States Department of Agriculture) and, although expectations for the new numbers have been floating for some time, surprises can always appear and impact progress. of the markets. Among the data that will be reported are quarterly stocks as of March 1, 2024 and planting intentions for the 2024/25 harvest, in Prospective Plantings. Although the stock numbers are highly anticipated and bring very relevant information for the trend in prices in the coming months, the area data are the first pieces to the puzzle of the 2024/25 global grain harvest, with the first signs about the new crops from the Northern Hemisphere. Therefore, awaiting these numbers and the environment they will create among North American producers and for prices, the markets are operating on hold this week, adjusting their positions before the reports. The common feeling among analysts and consultants is that the USDA ...
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