USDA says plantings report could miss the mark
The USDA’s prospective plantings report Tuesday could be off the mark, like last year when weather played a huge role in actual acres planted.
Lance Honig with the Ag Statistics Service (NASS) says, like every year, a lot can change, “We know from looking back over time that there are some changes that occur and in fact, this very report can be one of the tools that producers use to change from what their intentions are to what they actually plant. And, obviously, what the market does is going to have a big impact on those decisions as well.”
Last year, actual corn planting was down three-Million acres from the March intentions report and soybeans were eight-and-a-half Million acres lower.
Tuesday’s survey was taken at the end of February. The report is out Tuesday at Noon Eastern, 11 a.m. Central.