USDA Planting Intentions Report Due Next Tuesday

We’re still one week away from USDA releasing its perspective planting report. And when it does, one market watcher expects growing season weather to quickly take over the market's attention, especially for corn. Farm Futures Market Analyst Arlan Suderman says - normal yields will be essential this year, especially if demand continues to firm. However, Suderman says, - we see no looming weather threat on the horizon to suggest otherwise at this point.

Most forecasters expect next Tuesday’s USDA acreage estimates for corn to be much smaller this year than last. But, how much smaller is still being debated. Farm Futures Magazine recently set planting intentions at 82.46 million acres, down 4 percent from the 86 million put in a year ago. Farm Futures expects soybean acreage to soar to a record 80.73 million acres, up more than 6 percent from last year's 75.7 million.

Still, some statistical models show corn holding acreage this spring because it remains profitable in some areas. But Senior Editor Bryce Knorr says, - in the real world, farmers tell us corn is just too risky to plant, because it costs so much more than soybeans. Spring wheat acres are predicted to be at 13.92 million acres, down from 14.1 million in 2008. Severe spring flooding in North Dakota is predicted that could impact this number.