USDA prospective planting estimates less than a month away

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USDA prospective planting estimates less than a month away

The USDA’s prospective planting estimates for 2021 come out at the end of the month.

Glen Wachtler with Compeer Financial says most years, he has a pretty good idea based on anticipated return-on-investment.

“And this year it’s not shifting toward one or the other in a great aspect when I’m working with producers. And I think USDA is really showing that same thing.”

He’s referring to last month’s USDA Ag Outlook projection of 92 million acres for corn and 90 million for soybeans.

“Soybeans are certainly up from last year’s plantings. But when it comes to which one are we going to plant more of, that’s to be said. Maybe more corn will go in the ground, however I think the higher input prices with corn are just hampering that a little bit.”

USDA will release its prospective plantings report and quarterly grain stocks estimates March 31st

Wachtler made these comments during a Compeer: What’s Happening with the Grain Markets podcast, a content partnership with Brownfield.

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