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An opinion piece argues that March planting intention estimates are the key price driver for North American grains. It cites USDA's February figures of 90.489 million acres of corn and 88.647 million acres of soybeans as the benchmarks to watch.
Planting-area revisions set the supply outlook and price range for the coming marketing year, so changes from February benchmarks can move corn and soybean feed costs.
farmersforum.comMar 31, 2017After 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
