USDA predicts two percent more corn acres
The USDA is estimating that 90 million acres of corn will be planted in 2016, up two percent from last year. Soybean plantings are pegged at 82.5 million acres, down just slightly from a year ago.
DTN analyst Todd Hultman says those numbers reinforce early bearish fundamental outlooks for the major row crops.
USDA’s wheat acreage forecast, at 51 million acres, is down seven percent from a year ago and below most expectations.
Those estimates were released today at USDA’s Ag Outlook Forum.
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