Purdue ag economists discuss crop outlook
The USDA released its prospective planting estimates and some analysts say the corn planting estimates are too high and the soybean estimates are too low.
Purdue Ag Economist Michael Langemeier says he’s anticipating a small shift from corn to soybeans.
“I think a shift from one to two million acres from corn to soybeans would not be surprising,” he says.
He says corn is less competitive than it was in early March…“Because of the drop in corn prices and the weakness in ethanol demand, but it’s not like all of the sudden soybeans become extremely competitive,” he says.
Ag Economist Jim Mintert, director of Purdue’s Center for Commercial Agriculture, says advice he has for growers is to take advantage of any spring planting rallies.
“There’s a strong tendency to see a spring planting season rally in corn and soybeans and if that materializes take advantage of it,” he says. “That’s your opportunity potentially to make some clean up sales of the 2019 crop and perhaps make some sales on the 2020 crop as well.”
Mintert and Langemeier hosted a webinar today.