How much will corn acres decrease in Tuesday’s report?
June 29, 2020 By Ken Anderson Filed Under: Crops, Crops, Crops Markets, News
The big question heading into Tuesday’s revised acreage report from USDA is how many corn acres were switched to soybeans this spring.
analyst Jeff Peterson of Nebraska-based Heartland Farm Partners says he expects
a two million acre decrease in corn acres, to around 95 million.
“The only thing we’re having a hard time with is the fact that the type of conditions we had in the spring normally would indicate that we’d see more corn acres planted—because normally when we plant into a little bit drier conditions, they put a little bit more corn in,” Peterson says.
he thinks the lack of profitability on corn probably caused more farmers to switch
to soybeans this spring.
Peterson looks for soybean acreage to be around 85-point-5 million.
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