Corn, soybean and wheat futures faced followthrough selling this week after a late price reversal last week.
The Brazilian and Argentinian crop is ready for harvest, but rain is falling.
At the USDA’s 93rd annual Agricultural Outlook Forum, the agency rolled out its predictions for the year ahead.
Corn prices are expected to average $3.50 and acreage to total 90 million, a drop of 4 million acres.
Farmers need to plan ahead and communicate to avoid damaging crops, especially when using dicamba herbicides. Before spraying know the area, communicate with neighbors and take advantage of online resources to ensure you’re taking appropriate precautions for downwind sensitive areas.
The fields in Mato Grosso, Brazil’s top soybean producing state, have been so muddy that sometimes it’s almost impossible to walk through the rows of brown plants ready for harvest.
Argentina and Brazil seen as alternatives for soy, corn and wheat.
It appears South America is harvesting a great soybean crop, now all eyes are watching to see the size of the second crop.
Acreage used for soy may exceed corn for first time since 1983.