Arlan Suderman of INTL FCStone said on U.S. Farm Report that USDA’s June Acreage Report "probably never should have been published due to the extenuating circumstances,” according to a report on AgWeb.com.
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However, analysts say the late-planted crop means acreage surveys as of June 1 are already out of date. USDA admitted the numbers are out of date. Buried in Friday’s report was USDA announcing it will resurvey corn acres in 13 states, planted acreage of soybeans in 14 states and cotton in Arkansas. Those findings will be released in August.
