Each spring USDA’s National Agricultural Statistics Services releases a forecast that is basically U.S. farmers’ best guess of how many acres of corn, cotton, rice, soybeans, wheat and other crops they will plant that year.
Commodity analysts – and farmers – dissect the planting intentions report, pointing out its shortcomings, but, invariably, the crops get planted and growers produce enough of each to mostly meet domestic and the U.S. share of world demand.
