Cash Strategist 2/22/2023
Acreage Debate in U.S. IntensifiesLast year, U.S. farmers seeded 88.6 million acres of corn as weather was a major issue hindering spring planting. This total is expected to be much higher this year with some analysts predicting U.S. corn plantings as high as 94 million acres. While possible, this seems like a stretch. To reach this level, the U.S. would need to see very little prevent plant and bring in idled acres. In the recent USDA baseline projections, U.S. corn acres were predicted at 92 million. This number is more realistic than higher estimates that are being floated. The main reason some analysts are higher is because they feel the U.S. will need more corn acres to satisfy demand. The uncertainty is how much corn demand the U.S. will lose to South America if Brazil’s crop is as large as some...
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