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Acreage battle ahead says Illinois-based market analyst
A market analyst anticipates an acreage battle as U.S. farmers chase higher corn and soybean prices.
Dr. Michael Cordonnier with Soybean and Corn Advisor in Hinsdale, Illinois says in the south some cotton acres will probably go to corn.
“Maybe some spring wheat goes to probably soybeans, maybe corn as well. There’s going to be more double-crop soybeans following all the wheat. (Farmers) might even plow up a little bit of wheat in the southwest if it’s not doing very good, and put in another crop that’s more profitable.”
He tells Brownfield hay acres will also be in play.
“If it’s dry in the spring we’re going to plant every pothole in the northwestern Corn Belt, so farmers are going to swing for the fences acre-wise. And why not? We’ve got the best prices in almost a decade.”
Cordonnier says the U.S. could see 93 million acres of corn and 91 million acres of soybeans if the weather cooperates.
The USDA will release its 2021 Prospective Planting estimates at the end of March.
