In USDA’s March acreage report, lower-than-expected acreage surprised markets. U.S. corn planting intentions were slated at a five-year high of 91.1 million acres, up 325,0000 acres YOY but notably below the industry estimate.
For soybeans, producers intend to plant a three-year high of 87.6 million acres, also notably below than the industry estimate but up 4.5 million acres YOY.
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