Markets have a good handle on planted acreage, barring a surprise in FSA’s certified acreage figures. Focus is fully on weather and how that will impact yields, production and ending stocks, especially for the corn and soybean markets. View our balance sheets for corn, soybeans and wheat, including three weather scenarios for the 2020-21 marketing year.
Corn: USDA’s surprising corn planted acreage estimate in June slashed about 1 billion bu. of projected production. Under “average” weather, we have a slightly higher-than-trendline yield, though we also have more use plugged in than USDA, leading to a mildly lower ending stocks forecast. View Poor and Excellent weather scenarios & tables.
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