Some say that the much-awaited USDA announcements are much ado about nothing. The ag market tends to hold its breath anticipating the March 31 grain stocks and prospective plantings reports.
Somewhat based on speculation and intentions, the news was expected. The answers will change. Still, the closing bell let us know how important these reports have become.
In early March, approximately 85,000 American farmers surveyed said they intended to plant more corn, to the tune of a roughly 4 million acre increase. If that happens, the U.S. will see the second-largest corn planting since World War II.
The weather man may have something to say about it, though. How much and which kind of crops could drastically change by the time seeds get into the ground.
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