Corn is still standing in the Dakotas as harvest faces leftover challenges from 2019.
Allendale President, Steve Georgy, says that it could effects 2020 planted acreage. According to Georgy, “When we start looking at some of these problem areas we need to start taking off some acres and I think there could be quite a bit of acres lost up in North Dakota, especially trying to finish up harvest, now with a lot of rain. We know these problem are still there and they are going to be there over the next several weeks as well.
USDA is forecasting 97 million acres of corn for the new season. Georgy says that there could be a decline of 2 to 3 million acres, which could capture market attention and lend support to the balance sheet.