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Five million acre drop in corn was a shocker
The five million acre decrease in corn acres in this week’s USDA acreage report was a shock to most analysts.
StoneX analyst Arlan Suderman says he thought the USDA’s March estimate of 97 million corn acres was too high to start with.
“If it wasn’t too high, then that means we had a lot more prevent plant than what we picked up from our customers or any of the surveys,” Suderman says. “And we won’t know about prevent plant numbers until we start getting farmer certification numbers into FSA, which starts releasing that data in August.
“So it’s going to be some weeks before we really know how to solve this mystery of all of a sudden losing the acres and soybeans not picking up any of them.”
Suderman made those comments in an interview with Brownfield.
AUDIO: Arlan Suderman
