Prevent Plant Acres UPDATE Created by rrummel on 9/18/2013 4:57:28 PM
Bower Trading Comments
Jim Bower - I have to admit, yesterday's market response to the USDA's FSA acreage report has to be a disappointment to the bull case, at least short term. Yesterday's FSA update for corn PP totaled 95 million acres planted, which is 2.4 million acres below the September planted acreage number of 97.4 million acres.
FSA update for soy acres totaled 76.4 million acres, which is 800,000 below USDA's September planted area of 77.2 million acres.
There still remains some degree of confusion and uncertainty on the PP issue, but hopefully will be clarified on the next USDA crop report on October 11th.
Total corn, beans and wheat PP acres on September 17th now at 8,213,038 acres versus August PP acres at 7,710,561.