Heading into Friday’s morning of reports, Allendale, Inc. is expecting that we will see an acreage forecast for 2012 that will depict the most corn acres planted in the U.S. since 1944. While they expect to see soybean plantings down by .5 million acres from 2011, Allendale sees all wheat acreage as increasing by 2.2 million acres.
The USDA will also release quarterly stocks estimates. Ahead of the official numbers, Allendale analysts have the following predictions:
The also report that for the last 18 months, the trade estimate has been off for the USDA’s corn stocks. With this, they say that any big moves from the USDA in either direction would have some significant implications for the markets.
Source: Allendale, Inc.
Posted by Haylie Shipp
