"USDA To Re-Survey Planted Acres for Entire Corn Belt"

A reminder for anyone thinking of settling into a comfy position, fireworks won't just be happening on the Fourth. The next six weeks will be getting some oohs-and-aahs as well.
Three from AgWeb:
June 28

Following the release of USDA’s June Acreage report, disbelief flooded the ag industry. USDA pegged corn acres at 91.7 million and soybean acres at 80 million. How could that be possible give the weather farmers faced this spring? Well, it’s not possible and USDA plans to re-survey 14 Midwestern states, including each of the key corn and soybean production states.

USDA conducted the survey for the June Acreage report during the first two weeks of June. Because the question farmers responded to included acres they intended to plant, it’s likely what actually got planted is closer to the average trade guess of 86.6 million acres of corn. Recognizing that, USDA will re-survey farmers in time for the August Crop Production report, which will be published Aug. 12....MORE

And also June 28:
USDA Should Have Never Released June Acreage Report 

The hype leading up to USDA’s June Acreage Report was met with a bearish reaction in corn on Friday. USDA published a corn acreage number of 91.7 million acres. The farmer survey results were higher than the acreage number USDA released in its last crop production report, coming as a shock to the trade.
However, analysts say the late-planted crop means acreage surveys as of June 1 are already out of date....MUCH MORE

And July 1:
At a loss for the right word

It is somewhat challenging to find the proper word to describe the issuance of the acreage number by the USDA last Friday.  The first that came to mind, or at least the first word that was acceptable for print, was irresponsible.  Granted, I recognize their job is to take the data they have collected at reporting time and try, without bias, to compile that into a report for the rest of us but, they are undoubtedly aware of the impact, said reports will have on the marketplace, particularly in this era of flash and computer-driven trading.  At a minimum, prior to the released of the report, there should have been some type of disclaimer highlighting the far greater than normal possibility for inaccuracy, and that the number will be revised at a later date, but unfortunately, that was not done until well after the released, and the markets mayhem already took place.  Do I think that this will all, ultimately “come out in the wash” so to speak after they have conducted additional surveys here during the month of July? Absolutely, but considering we have experienced a historically non-standard spring, it called for a historically non-standard response and explanation from the USDA.  As I touched on previously, the USDA will be re-collecting data from 14 dates during July and on the August 12th crop production report will issue revised number if deemed necessary....MORE

And from FinViz, three months of action for the big three ag futures: