“Don’t trade against USDA”
Market analyst Al Kluis has a message for farmers skeptical of USDA’s June acreage report.
“Don’t trade against the USDA.”
During a webinar hosted by the Minnesota Corn Growers Association Thursday, Kluis said he’s been fielding questions about the accuracy of USDA’s estimates.
“They’ve got a very sophisticated methodology that they’re using to survey acres. They’ve got the largest database in the world. And if you’re ever asked to fill out a survey for USDA, please cooperate.”
Traders were caught off guard by USDA’s lower-than-expected planting projections for corn and soybeans that pushed futures sharply higher Wednesday.