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| Like everyone on this site and others I have spoken to, the corn acreage seems way too high and soybeans on the low side. While I don't think it is going to affect soybean prices too much until South America's next growing season starts. The corn, in my opinion, is going to get very volatile meaning I can see the people in Chicago believing these numbers and lowering the corn prices but this will be a great buying opportunity for livestock producers, ethanol plants and other endusers. Talk all spring and summer has been about rationing corn to get to next crop but this report does the opposite and although it is bad for farmers now but if demand continues then longterm it will be bullish if or when the USDA realize where they made a mistake. Maybe someone should tell USDA that if you replant one acre it doesn't count as 2. Yield will definitely be lower overall and how much of this corn will be at risk for an early frost?
Edited by Maple Leaf 6/30/2011 09:12
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Thoughts about USDA report
