Ag analysts are preparing for a significant increase in corn acres this year.
Frequent Market Day Report guest Jim McCormick says data coming early next week is expected to show high demand.
“The demand for corn is ferocious,” he explained. “There are some genetics in certain areas that actually run out because that demand is so strong. And hence, that’s what we think, when it’s all said and done on the 31st, they’re gonna come in at least at 95.39 million acres.”
McCormick says it all boils down to profit, which is something corn has more potential for than soybeans.
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Overall, the report suggests a shift toward more comfortable supply levels, with demand emerging as a key factor to watch in the months ahead.
Lower shipping costs favor corn, while soybeans face pressure.
