Major reports will be announced by USDA on March 31 in the form of a prospective plantings preview and a grain stocks report. Pro Farmer managing editor Brian Grete explained each of them on Thursday during AgDay TV’s agribusiness segment.
On prospective plantings
"We’ve now kind of settled in – 81 million, 82 million is kind of the expectation for soybean plantings," Grete says. "That’s a record large, but it seems like most of the estimates are in that range. (Meanwhile, the expectation is) 92 million, 93 million on corn plantings, so down from year-ago pretty significantly. But once again, all those estimates are around in that range."
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On grain stocks
"Going in we don’t really know what to expect," Grete explains. "There’s big uncertainty. This has been the report that there have been huge misses on – hundreds of millions of bushels on a regular basis on these quarterly grain stocks reports on the corn side of things. Now you throw in PEDV on the hogs, bringing in some uncertainty about what actual feed use was for the quarter."
Click the play button below to watch Grete’s complete analysis on AgDay: