SEASON OF UNCERTAINTY –

The Ag Department shocked traders and farmers June 30 when it pegged corn plantings this season at 91.7 million acres, more than 5 million acres above the average trade guess. “The corn acreage number was a bit of a shock, but I personally don’t believe that number is correct,” said Todd Hubbs, University of Illinois ag economist. “We could have seen the base of corn acres expand. Prevent plant acres could be incorporated in that.” USDA begins the next round of quantifying what exactly got planted in recent months when it resurveys farmers this month to readjust planted acreage estimates in August. (FarmWeekNow)