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.
USDA's acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer, according to University of Illinois agricultural economist Todd Hubbs.
Corn and soybean producers aren’t the only ones feeling the squeeze of wet weather. Cattle and dairy producers are left wondering what this means for their access to feed, and how soon they should lock in inventory.
School time now comes with some shop time for Indiana farmer Charlie Houin and his sons. While great-grandma, grandma and grandpa help homeschool due to the COVID-19, Houin works to get equipment ready for planting.
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.