Tuesday, March 30, 2010

Breaking News-RPT-Grains Week Ahead - USDA data to set market tone

CHICAGO, March 28 (Reuters) - The U.S. government on Wednesday will issue its first survey-based estimates of how many acres of corn and soybeans farmers will plant this spring. Traders say there will be more of both than in 2009. In fact, they expect corn acres to be the second-largest in 65 years, with a record high for soy.
The report could signal prospects of back-to-back seasons of mammoth crops from theworld's top grower and exporter of corn and soybeans, and provide key trading signals not only to the Chicago Board of Trade but grain markets across the globe.