USDA says farmers intend to plant 97 million acres of corn in 2020. As COVID-19 acts as an anchor on the markets, and the ethanol crisis continues to unfold, some analysts say 97 million acres could be a stretch.
U.S. pork exports recorded the highest-ever monthly value in November while U.S. beef export value took another step toward a likely full-year value record, according to data by USDA and compiled by USMEF.
With a large increase in corn acres, and declining ethanol demand, the U.S. could be swimming in supplies. That’s why one analyst thinks there's downside price risk with putting corn in the ground this year.