New crop revenues above ISU Cost of Production estimates (201 bushels per acre corn costs estimate at $664; 56 bpa soybean costs estimate of $501) have taken a hit during the month of June, but still offer very positive returns as the market prepares for the June acreage report. Of course, your own costs and basis need to be considered for your farm.
The market expects USDA to release planted acres for corn and soybeans (on June 30) above the March intentions. The risk is the acreage in the report versus analysts’ pre-report expectations. Iowa Farm Bureau is hosting Karl Setzer of AgriVisor for a look at the numbers including the July WASDE on July 13 (which will give the market plenty of time to digest the June 30 acres report).July WASDE, Planted Acres & Stocks: Market Implications
USDA will release the July World Agriculture Supply and Demand (WASDE) report on July 12. In addition, USDA will update 2021 acreage and stocks on June 30. This July 13 (1:00 pm) webinar will take these fresh USDA estimates and give a mid-summer check-in on the market implications going forward. To register and receive reminder e-mails, please click here