# Let’s Get Going, 2024! | Farm Bureau Intel Markets | American Farm Bureau Federation

> USDA's Prospective Plantings Report showed principal crop acres at 313.3 million, down 6.3 million or 2% from 2023, the largest drop in the eight years the metric has existed. Farmers intend to plant fewer corn acres, shifting toward soybeans and cotton, as commodity prices soften.

- Date: 2024-03-29 · published 2024-03-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31218-let-s-get-going-2024-farm-bureau-intel-markets-american-farm-bureau-federation
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Fewer intended corn acres and a shift toward soybeans reduce expected 2024/25 corn supply, supporting corn prices, while higher soybean acreage is bearish for soy and meal over time.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-03-31 | [Soybeans Trumping Corn in 18 States \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/72026-soybeans-trumping-corn-in-18-states-farm-bureau-intel-markets-american-farm.md) | +0.4% | +0.3% |
| CORN | 2020-10-09 | [USDA Grain Stocks and WASDE Shock Markets \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/50594-usda-grain-stocks-and-wasde-shock-markets-farm-bureau-intel-markets-american.md) | +3.7% | +7.4% |
| CORN | 2023-09-13 | [September WASDE: Ringing in 50 Years with Reduced Corn, Soybean Yields and Lower Livestock Production Expectations \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/34031-september-wasde-ringing-in-50-years-with-reduced-corn-soybean-yields-and-lower.md) | -7.1% | -5.9% |
| CORN | 2021-02-09 | [Markets take USDA WASDE report in stride \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/48591-markets-take-usda-wasde-report-in-stride-an-official-publication-of-michigan.md) | -5.2% | +1.6% |
| CORN | 2022-03-31 | [PF Report Reaction: Corn, soybean planting intentions shock markets - Pro Farmer](https://feedsoft.ai/events/42295-pf-report-reaction-corn-soybean-planting-intentions-shock-markets-pro-farmer.md) | +4.1% | +5.9% |
| SOY | 2017-03-31 | [Soybeans Trumping Corn in 18 States \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/72026-soybeans-trumping-corn-in-18-states-farm-bureau-intel-markets-american-farm.md) | -2.2% | -1.8% |
| SOY | 2017-08-10 | [Surprise, Another Big Corn and Soybean Crop On the Way \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/69397-surprise-another-big-corn-and-soybean-crop-on-the-way-farm-bureau-intel-markets.md) | -4.3% | +0.0% |
| SOY | 2017-05-10 | [Updated Supply and Demand Expectations for Corn and Soybeans in 2017/18 \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/70851-updated-supply-and-demand-expectations-for-corn-and-soybeans-in-2017-18-farm.md) | +1.1% | -3.6% |

## Sources

- fb.org: https://www.fb.org/intel/markets/lets-get-going-2024

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.