USDA should indicate increase in soybean planted area in the USA

Soybean

United States

Market & Price Trends

Published Mar 28, 2024

Tridge summary

The USDA's upcoming report is expected to show a shift in agricultural planting trends in the United States for 2024, with soybean planting area projected to increase to 86.3 million acres from 83.6 million acres in the previous year, although this is slightly lower than the 87.5 million acres initially forecasted. Conversely, corn planting area is anticipated to decrease to 92.03 million acres from 94.64 million acres. Additionally, the report will cover American stock positions as of March 1st, with expectations of 1.832 billion bushels, marking an increase from the previous year's 1.687 billion bushels but a decrease from December's 3 billion bushels. These figures reflect broader trends and expectations within the agricultural sector.

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

The United States Department of Agriculture (USDA) is expected to indicate an increase in the area to be planted with soybeans in the country in 2024 compared to the previous year. The USDA planting intention report will be released this Thursday (28), at 1 pm. The forecast should indicate a smaller area than the estimate released in February, during the Department's Annual Forum. Research carried out by the Dow Jones agency indicates that the market is betting on a number of 86.3 million acres. Last year, Americans sowed 83.6 million acres. The average projection ranges between 84.3 million and 88 million acres. If market expectations are confirmed, the USDA will indicate a number lower than the 87.5 million acres indicated during the Forum. The soybean area is expected to be below that of corn, projected at 92.03 million acres, compared ...

Source: CanalRural