Analyst: Acreage Numbers More Important Than Yield Numbers

June 14, 2017 02:39 PM
 
 

June is nearly half over, and for Jarod Creed, commodity analyst, it’s too early to start discussing yields and yield problems. Instead, he thinks the acreage number is more important.

“Last year, it wasn’t 170-some bushel corn yield that hurt us,” said Creed. “It was the fact that we planted 94.5 million acres, which is 2 or 3 million too much.”

When 2017 started, many producers were expecting to see between 90 to 92 million acres of corn, but with a lot of rainfall in the Corn Belt during the planting season, Creed expects to see less than 90 million acres.

Many producers are concerned on why the market hasn’t reacted more than what it has because of weather issues growers experienced during the planting season.

“I would estimate that the American farmer still has roughly 30 percent of last year’s corn to sell before we get on a combine this fall,” said Creed.

Hear Creed’s full comments on yield vs. acreage on AgDay above.

Back to news


AgTech Expo

Harness the power of AgTech

Farm Journal's AgTech Expo
Dec. 11 to 13 in Indianapolis, IN

Keynotes from: Google's Geospacial Technologist, Farm Journal Field Agronomist Ken Ferrie, and an expert in the Internet of Things. Plus 19 breakouts presented by independent industry experts. To learn more, click here.


 

Comments

 
Spell Check

No comments have been posted to this News Article

Close