March 31 USDA report results are in now
Official USDA planting projections issued 9 AM today:
Estimated corn acres – 89.5 million acres in 2022 down from the
industry average guess of 92 million acres.
Estimated soy acres – 91 million acres in 2022 up from the industry
average guess of 89 million acres
Estimated cotton acres- 12 million acres up 1 million from 2021.
Given the demand for soy oil for fuel and Canada planting more canola
than last year we should see lower overall protein meal prices in the
Cottonseed, if the harvest goes well, should be sharply cheaper than