Tuesday March 30, 2021

• Tomorrow is the long awaited USDA report that will give us the first official indication for spring planted acres
  • Average estimates are for 90 million acres in soybeans and 93.2 million acres in corn 
• Corn and soybean futures are sitting right at the bottom of their recent ranges preparing for the report 
• Current outlook is warm wet forecast into Mid-April 
• U.S. farmers are leaning towards corn over beans
  • Over the last 11 months U.S. soybean prices have rallied 45% and corn 24.7% yet despite the more drastic rise in soybean prices the average U.S. farmer is still leaning towards more corn acres