CBT TRADERS SAY U.S. CONSERVATION SIGNUP NEUTRAL

  The 11,254,837 acres of highly erodable
  farmland submitted to the U.S. Department of Agriculture for
  the conservation reserve program was within trade guesses of
  10-12 mln and should have an overall neutral impact on grain
  and soybean prices Monday, grain traders said.
      Farmers enrolled 1,894,764 acres of corn base acreage in
  the conservation program to take advantage of a corn bonus
  rental payment that was offered by the USDA, which may underpin
  new crop futures, they said.
      New crop corn prices firmed earlier this week on ideas of a
  large sign-up in the program. But traders noted that the poor
  yielding acres being set-aside will result in only a modest
  decrease in final production figures, since farmers will
  concentrate on high yielding land.
      Of a total 11,254,837 erodoble acres submitted, usda
  accepted 10,572,402 acres into the program at an average rental
  payment of 51.17 dlrs per acre.
      Farm land signed up to date now totals 19,488,587 acres.
  

