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With continued uncertainty around trade, sizeable stocks, flooding in the Midwest and fertilizer costs, will corn and soybeans keep all of these projected acres?
Uncertainty on trade issues and the subsequent price movements associated with speculation on the topic added a degree of difficulty to acreage decisions this year.
Corn planted area for all purposes in 2019 is estimated at 92.8 million acres, while soybean planted area for 2019 is estimated at 84.6 million acres.
USDA released a slew of reports of Friday, initially sending markets lower.
January soybeans were up 6 cents at $11.75-3/4 a bushel after peaking earlier at $11.89-3/4, the highest for a most-active contract since June 13, 2016.
Corn Planted Acreage Up Less than 1 Percent from 2020 Soybean Acreage Up 5 Percent All Wheat Acreage Up 5 Percent All Cotton Acreage Down Less than 1 Percent