On Friday, the USDA will release one of its biggest reports of the year: the June acreage report.
Many are speculating what the report will bring—higher corn acres? Higher soybean acres? More or less of both?
In the March Prospective Plantings Report, the USDA forecasted 88 million acres of corn and 89 million acres of soybeans.
Matt Bennett, owner of Bennett Consulting, isn’t sure soybean acres in 2018 will top 90 million acres.
“I think it's pretty hard to get corn a whole lot above the 88 that we're talking about right now,” he said.
If there is a bullish story to come from this report, DuWayne Bosse, founder of Bolt Marketing, LLC., believes it could come for slightly fewer corn acres.
“Everyone’s thinking 1 million [acres] up, but Matt and I are in agreement—we don’t think it changes in the big bullish story,” he said.
Hear what Bosse and Bennett think could happen realistically with prices this year on U.S. Farm Report above.