News

First of three big March USDA reports out Tuesday

The grain markets will digest several big USDA reports this month beginning with the latest supply and demand estimates out tomorrow.

Iowa State University Extension farm management specialist Steve Johnson does not expect any major surprises Tuesday.

“I think the bigger surprises are going to sit in the quarterly grain stocks report (on) March 31st. I think maybe the quarterly grain stocks, just like it was a shock on September 30th, how many of these bushels have actually disappeared?”

USDA’s Prospective Plantings report also comes out at the end of March and Johnson predicts both corn and soybean acres will be higher than 2020.

“Both acreages are going up and weather will ultimately determine what farmers plant.”

He tells Brownfield farmers are itching to get started.

“If we get a window to plant we’re probably going to see pretty aggressive early planting in the Midwest in April and May.”

The March supply and demand numbers are out at 11AM central Tuesday. The quarterly stocks and prospective planting reports will be released March 31^st.