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.
Related Stories
RFA President and CEO Geoff Cooper joined us to discuss the proposed E15 amendment in the Farm Bill, industry reaction to the legislation, and the outlook for year-round E15 sales.
Dry conditions have severely impacted key winter wheat states with persistent moisture deficits. As quality declines, analysts warn some crops may be lost despite upcoming rain.
Rising ethanol stocks and softer gasoline demand bear watching, but stronger blending activity and exports offered some support.
Corn export demand remains supportive, but weak pork and rice sales show uneven global demand trends.
Rising poultry supply is pressuring prices despite steady demand.
Tasting events in Ghana highlight potential for new export markets
