On the Grains
How quickly things change. With the final USDA report released last week, we now have something to look forward to in the markets: some risk to trade. It reminds me of watching a Mayweather fight, all defense, then boom a few quick jabs, and the momentum has changed. It’s all about the splash on the wires now. Are you at 93 million corn acres or 95 or even 96 million for the prospective planting report? Some well-followed analysts came out yesterday at 93.5 corn acres and soybeans at 83.3 for 176.8 million row crop acres. The ratio of 2.28 would lead me to believe that the corn number is too low. The frustration of beans north on I90 is real. All indications are more corn in Iowa/Minnesota. Crop Insurance pricing is set to start shortly, and that will have as much of an effect on what is planted as anything.