“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.

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