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Analysts are struggling to pin down US corn planted acreage after wet spring weather caused prevented planting in key states. Private estimates range from 86 to 89 million acres, compared with USDA's June figure of 91.7 million.
USDA will release an updated acreage estimate on August 12, and NASS has dropped its August field survey for yields.
A planted area below 86 million acres would tighten corn stocks and could support prices. Uncertainty about yield adds volatility until USDA's August report.
dtnpf.comKatie DehlingerAug 5, 2019After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
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.
