The US Department of Agriculture’s (USDA) plan to plant crops for the 2018/19 crop in the United States indicates that the area to be grown with soybeans is expected to reach 36 , 1 million hectares, down 1% compared to the previous season. According to grain analyst DATAGRO Consultoria, Flávio Roberto de França Júnior, the number was below the average market expectation, which ended up bringing strong support to the Chicago Stock Exchange (Cbot).
According to the agency, the area planted with maize is expected to reach 35.62 million hectares, down 2.4% over the previous cycle. “The number has come below the market expectation of around 36.20 million hectares,” says França Júnior, who adds: “If confirmed, this will be the fifth year of retraction in the area sown in the last six seasons.”
READ TOO: USA: USDA predicts soy area to exceed corn in 2018/19 cycle