USDA planting estimates out of sync with trade

USDA planting estimates out of sync with trade

Corn prices plummet after USDA releases surprising estimates for planted acres and quarterly stocks.

THE U.S. Department of Agriculture once again surprised the grain trade March 31 when it released the highly anticipated "Prospective Plantings" report on March 31.

USDA estimated the 2015 planted area for corn at 89.2 million acres, down 2% from last year but up from the agency's February estimate and off from the trade's expectations (Table 1). The average trade estimate prior to the report's release was 88.7 million acres.

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