A twofer from AgWeb:
2016 Prospective Plantings: Corn Acres Up 6% at 93.6 Million Acres
Corn Planted Acreage Up 6 Percent from 2015
Soybean Acreage Down Less Than 1 Percent
All Wheat Acreage Down 9 Percent
All Cotton Acreage Up 11 Percent
Corn planted area for all purposes in 2016 is estimated at 93.6 million acres, up 6 percent from last year. If realized, this will represent the highest planted acreage in the United States since 2013, and will be the third highest planted acreage in the United States since 1944.And the storage reports:
Soybean planted area for 2016 is estimated at 82.2 million acres, down less than 1 percent from last year.
Compared with last year, planted acreage intentions are down or unchanged in 23 of the 31 estimating States.
All wheat planted area for 2016 is estimated at 49.6 million acres, down 9 percent from 2015. The 2016 winter wheat planted area, at 36.2 million acres, is down 8 percent from last year and down 1 percent from the previous estimate....MORE
"US weather to speed up corn sowings - but bodes ill for wheat"
*See also March 21's "Agricultural Futures: 'Hedge funds cover ag shorts en masse...'":As Grandmother used to say, "If it's not one tham ding it's another".
Wheat 472-4 up 1-4
Corn 369-0 down 1-4
Right now this stuff is just noise although Thursday's planting intentions report might get prices jumping around.
They've fallen into my trap....March 16
Grains: Allendale Planting Intentions Survey--Farmers Are Planting Fencerow to Fencerow
Corn 368-2 down 0-2March 8
Wheat 470-6 down 6-4
We're looking for a drift down into late summer, then a weather related boost.
ABN Amro Says Grain Prices Have Bottomed After Four Year Decline
We think ABN are early, there is just so much stuff around although we expect some late summer La Nina weather to give us a long trade.Feb. 26
USDA Chief Economist Makes A Case For Farmland
It's too early.
Even though we think we'll see some upward price pressure come late summer, after a meandering downtrend, the reality of farmland investment is that it is only worth a multiple of the cash flow.
(unless you're on the edge of a metro area and have some non-public zoning info)