The USDA released their estimates of acres to be planted. Corn acres are estimated at 88.026 million acres, low enough to send the corn market soaring. Corn closed up 13 cents for the week . New Crop was also up 15 cents
Bean acres were estimated at 88.982 million acres, more than a million lower than the average trade estimates. This also sent the bean market higher. Beans closed up 19 cents with new crop also up 22 cents.
The market has now shifted its attention to the US weather. The concern is that we may see a late start to spring planting especially in the Western Corn Belt.
