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Extension economist Ron Smith comments on the June 30 USDA acreage report, which showed corn planted at 92.006 million acres, down 4.984 million from March, and lower cotton and wheat acres. He advises farmers to focus on profit rather than price in marketing decisions.
The larger-than-expected corn acreage cut lifted December futures about 25 cents, a supportive signal for feed grain prices.
farmprogress.comRon SmithJul 9, 2020After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
