TRADERS EXPECT SHARP DROP IN U.S. CORN ACREAGE
Grain trade analysts expect a sharp
drop in corn acreage, with most expecting a more modest decline
in soybeans, in the U.S. Agriculture Department, USDA,
plantings intentions report due out at 1500 est (2100 gmt).
    The average trade guess for 1987 planted corn acreage was
66.06 mln acres, ranging from 60.7 to 69.0 mln, all well below
the 76.67 mln planted last year due to improved incentives by
the USDA for farmers to retire acres. Corn acres totalled only
60.22 mln in 1983, when the PIK program was introduced.
    The average soybean planted acreage quesstimate was 59.49
mln, ranging from 58.0 to 63.0 mln and compared with the 61.48
mln planted in 1986
    With substantial grain stocks, less interest was expressed
among analysts in the USDA stocks report also scheduled today.
 Reuter
