It is a new year, and ag economists are already looking ahead to next season, keeping a watch on corn acres.
“My expectation is I do think that the market’s going to incentivize additional corn acres, and so whether USDA makes that adjustment at the Outlook Meeting in February, or if they wait till May - well, I guess it would be the Prospective Plans report the end of March when they survey producers - but officially coming to the balance sheets in May. There are some timing aspects here, but certainly, I think we’re going to be in an environment where there are additional corn acres. I know it’s a long way out, and weather is just as volatile and fickle as markets are in a lot of cases, but you know, at least the weather pattern certainly suggests that it’s going to be a drier spring. That tends to hint at additional corn acreage as well,” said Ben Brown with the University of Missouri.
A lot of old crop supplies were on hand when harvest began last year. Brown says if you still have old grain in the bin, you might want to take action soon.
