Economist expects an increase in corn acres
An ag economist says he’s watching for a few things in Thursday’s planted acreage report from the USDA.
University of Missouri’s Ben Brown says he anticipates an increase in corn acres. “Outside of the Eastern Corn Belt and even the Northern Plains there were some pretty good planting conditions to get the crop in,” he says. “Especially in places like western Missouri, Nebraska, Kansas, and Iowa. On top of that, the corn price was at least justifying planting some corn.”
He tells Brownfield the pre-report expectations are for total acreage to remain about the same. Which Brown says means a reduction in soybean acres. “The trade is expecting about half-a-million acres less on the soybean front,” he says.
Brown expects corn and soybeans will also pick up acreage in Minnesota, North Dakota, and Wisconsin. “When we look at the planting intentions report, specifically at the intentions of corn and soybean, those could be the states where we see more corn and soybeans,” he says. “I also think they’re going to pick up some acres from the wheat market. I don’t think the Spring wheat market has done enough to retain the acres they had.”
The USDA’s Acreage Report comes out Thursday, June 30th at Noon Eastern Time/11 AM Central.
Brown made his comments during the Weekly Commodity Market Update hosted by Will Robinson.