Unprecedented U.S. weather conditions, export numbers and USDA’s Ag Outlook Forum all weighed on prices this week, says Jamie Wasemiller, market analyst with Gulke Group.
Markets Now with Tyne Morgan: Here’s Why USDA’s Acreage Number Could Grow
USDA issued its first look at acreage this week during the annual Ag Outlook Forum. USDA’s chief economist Seth Meyer showed projections that pointed to corn planted acres coming in at 92 million and the number of acres planted in soybeans this year is expected to reach 90 million.
USDA has projected corn and soybean acres could each top 90 million acres in 2021. The Chief Economist today is releasing a number of projections for agriculture for 2021 at the agency's annual Outlook Forum.
USDA Expects Both Corn and Soybean Acres to Top 90 Million in 2021
During USDA's 2021 Ag Outlook Forum this week, chief economist Seth Meyer pointed to a possible bump in overall planted acres this year, with 92 million acres planted in corn, 90 million in soybeans and 12 million acres of cotton.
By the Numbers: China Can Buy U.S. Corn $3 Cheaper Than Domestic Prices
As the U.S. waits to see if record corn purchases from China will turn into record shipments, there may be an economic incentive to buy more U.S. corn.
