Will USDA adjust corn acreage expectations?
A lot has changed since the end of March when USDA forecast 97 million corn acres in its 2020 prospective planting estimates.
With the first new crop production and use projections coming out tomorrow, USDA ag outlook board chairman Mark Jekanowski says he does not expect corn acreage to be slashed despite the nosedive in prices.
“But in fact, every time the analysts look at these numbers they’re going to be looking at things like planting progress (and) prices of different commodities.”
He says if there’s compelling information to move off the 97 million-acre projection, there’s no rule saying USDA analysts can’t do that.
The latest supply and demand report comes out at 11 Central tomorrow morning.