March 31 Planting Intentions
Corn
2025 corn acres came in at 95.3 million - right at 1 million acres above the average pre-report estimate:
The market seemed unphased though, almost as if we were all bracing ourselves for a 97-million-acre print.
In fact, old corn managed to close 4 cents higher while new crop only lost a half cent (after a bit of whipsaw action at the time the report was released):
At 53.3%, this is corn’s largest share of the March Prospective Plantings corn+bean area pool since 2020.
Makes sense though as 2025’s February average ratio of 2.24 was the market’s strongest signal to go heavy corn since 2.21 in 2012.
Again, profitability matters:
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