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USDA Prospective Planting Report

04/01/2021

The eagerly anticipated USDA Prospective Planting Report released March 31st sent corn and soybeans into limit-up mode. Corn closed at 565 cents per bushel and soybeans at 1,237 cents per bushel. Corn price held on Thursday with May contracts at 567 cents per bushel contrasted to soybeans that backtracked 1.2 percent to 1,420 at 11H00 EDT.

The USDA release documented:-

“Corn planted area for all purposes in 2021 is estimated at 91.1 million acres, up less than 1 percent or an increase of 325,000 acres from last year. Compared with last year, planted acreage is expected to be up or unchanged in 24 of the 48 estimating States”.

“Soybean planted area for 2021 is estimated at 87.6 million acres, up 5 percent from last year. Compared with last year, planted acreage is up or unchanged in 23 of the 29 estimating States.”