Old Crop Stocks Are Still Tight, So Why is the Market Spooked by Recent New Crop Estimates?
USDA’s Ag Outlook Forum pointed to a 3% increase in total planted acres of corn, soybean and wheat acres, a signal that stocks will grow in 2023. Market analysts say traders may be shifting their focus to new crop.
Decimated by a second mega-drought this century, America’s ranchers are struggling to survive. Last year’s perfect storm of economic and weather-related challenges led to the fourth consecutive year of declining cattle inventories.
Top 10 Charts from the Kickoff of USDA's Ag Outlook Forum
Despite weather trends, planting projections for 2023 find corn, soybean and wheat acres similar to 2022, for a combined 228 million acres — a 3% increase from 2022.
With Brazil's March beans priced 80¢ lower than U.S. beans, there are rumors grain contracts could be cancelled. Jon Scheve explains how this works and how farmers could be impacted.
