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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Prospective Plantings - Corn fell to 90.04M in March 2024
FMPMonthlyReleased March 2024
US Prospective Plantings - Corn fell to 90.04M in March 2024, down 1.96M from February's 92.0M reading. The reading matched the 91.78M consensus.
Latest Release
90.036000
Actual
91.776000
Consensus
91.996000
Previous
Median Absolute Error
±1.9 million
across last 4 releases
Last Call
Mar 2024
Predicted: 91.78
Actual: 90.04
Error: +1.74
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Prospective Plantings - Corn (United States) was reported at 90.04 million in March 2024. This missed the market consensus of 91.78 million by 1.74 million. The reading fell from the previous value of 92.00 million.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include NY Empire State Manufacturing Index (Jun 15) and Industrial Production MoM (Jun 15).
Auto-generated from current model state · Refreshes on each release · Last update March 2024.
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Prospective Plantings - Corn - US
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About Prospective Plantings - Corn — United States
DEFINITION
Prospective Plantings - Corn is a key financial indicator that provides insight into the expected supply and demand for corn in the upcoming growing season. This report, released by the United States Department of Agriculture, includes data on the intended acreage of corn planting by farmers, which can have a significant impact on the price and availability of corn in the market. Investors and analysts closely monitor this indicator to make informed decisions about the corn market and its potential impact on the agricultural industry.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2024): actual 90.04 M, consensus 91.78 M. Prior reading (Mar 2023): 92 M. Before that (Mar 2022): 89.49 M.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.