The USDA Prospective Plantings and the Quarterly Grain Stocks reports were released at the end of March and showed an increase in expected corn acres above 2018 levels.
The prospective plantings report was bearish for corn, which was good news for feedlot demand.
Get your day started with a brief rundown of key news.
Moisture and growing conditions in the Corn Belt and Plains will dictate corn yields, prices and protein production.
Price volatility in the corn, fed and feeder cattle markets can provide opportunity to manage risk exposure.
The plantings report revealed that U.S. producers intend to plant 93.601 million acres of corn this summer, up 6 percent from last year’s 87.999 million acres and more than 2.6 million acres higher than even the highest trade estimate.
Summer brings bullish and bearish news in cattle markets.
Given the significant decrease in plantings and the percentage of corn that has been planted late, corn price may continue to increase.