Monday’s USDA planting intentions and quarterly grain stocks reports saw no major surprises on the agency’s forecast numbers. However, how the grain futures markets’ prices reacted to the USDA data dump, which is considered one of the most important batches of information of the year, provided some valuable clues for price action in the grain and cotton futures markets in the coming weeks and months.
To recap, the USDA prospective plantings report saw U.S. corn planted acreage at 95.326 million. The trade expected 94.361 million, compared to 90.594 million acres planted in 2024. For U.S. soybeans, USDA forecast planted acreage at 83.495 million. Traders expected 83.762 million acres, compared to 87.050 million acres in 2024. For all U.S. wheat, USDA forecast planted acreage at 45.350 million, whereas the trade expected 46.475 million acres, compared to 46.079 million acres planted in 2024. U.S. cotton plantings are seen by USDA at 9.867 million acres. Traders expected 10.189 million, compared to 11.182 million acres planted in 2024.
