“The report really highlights how challenging the market is right now for major crops,” said John Anderson, deputy chief economist at AFBF. “We currently have adequate supplies both in the U.S. and globally in these commodities. It doesn’t look as though that will change. If we have normal yields, that supply side pressure will not ease up much.”
The 93.6 million acre prospective plantings figure for corn is up from 88.6 million acres planted last year, or close to three times the expected increase of 2 million acres.
AFBF news release
Want more news on this topic? Iowa Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!