The USDA will issue its acreage report on Thursday.
Ben Kasch is an Account Executive with Bower Trading and says the markets will be watching the report closely. He notes the level of uncertainty heading into this year’s acreage report is unprecedented.
“I think it’s uncharted territory. I mean, we’re at very elevated levels. There’s a lot of profitability in a lot of different crops at this point. Input costs get factored into a lot of this decision-making all the time I mean, every year. But, even more important, is definitely a lot more risk associated as far as producers this year than we’ve seen in years past here, because of the levels that we’re seeing in prices, fuel, you know, input costs, fertilizer, chemicals, and all that. If you’re on any lower-producing ground, there’s a lot of alternatives out there, so I think it’s gonna be very difficult to dial in in this year.”
While there are a lot of variables, Kasch says the ideal report will show U.S. farmers maximized their number of available acres for planting this Spring.
USDA’s Quarterly Grain Stocks report will also come out on Thursday. We will have the numbers on the Market Day Report.
Related:
USDA: Prospective Planting Report is not final word on acreage
Breakdown of latest acreage report, grain stocks 6.30.21
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