Market is signaling more corn acres
Purdue University agricultural economist Corinne Alexander says things have changed since the first of March when information was collected for the prospective plantings report and because they have changed, she’s recommending farmers re-evaluate their crop budgets again.
“Right now if you run the numbers from the March 31 prices its saying that for low quality land, land that gets 125 bushel corn, corn beats beans by $90 dollars an acre and on average quality land, 157 bushel per acre corn ground, corn beats soybeans by $140 dollars to the acre, and on high quality land, corn beats beans by $200 dollars to the acre, those are very strong incentives from the market to plant more corn,” said Alexander.
The Purdue ag economist says prices and weather will be the key indicators for farmers to be watching over the next several weeks.
“Right now if you run the numbers from the March 31 prices its saying that for low quality land, land that gets 125 bushel corn, corn beats beans by $90 dollars an acre and on average quality land, 157 bushel per acre corn ground, corn beats soybeans by $140 dollars to the acre, and on high quality land, corn beats beans by $200 dollars to the acre, those are very strong incentives from the market to plant more corn,” said Alexander.
The Purdue ag economist says prices and weather will be the key indicators for farmers to be watching over the next several weeks.