National Ag News
Unexpected acreage numbers put strength in soybeans
Before USDA reports were released Friday the corn market was about eight cents a bushel higher. It retreated to a penny higher just after the report came out and ended the session about a dime higher. Soybean futures were a bigger surprise closing about 30 cents higher, said Matt Hines, an analyst with Loewen and Associates, in an interview with Brownfield’s John Perkins. In the Acreage Report, Hines says corn was a significant mover.
“Corn acres up to 90.886 million acres,” Hines told Brownfield Ag News following release of the report Friday, “that’s 890,000 [acres] above the March intentions.”
On the other side, however, Illinois and South Dakota corn were each down 200,000 acres.
Continue reading Unexpected acreage numbers put strength in soybeans at Brownfield Ag News.
