Rumors of Dry Weather Could Sway Farmers to Grow More Corn

March 22, 2017 12:24 PM
 
 

The USDA will release its annual Prospective Plantings report the end of March and corn could have a bullish story.

Elaine Kub, author of “Mastering the Grain Markets,” told U.S. Farm Report’s Tyne Morgan corn could be bearish if there’s nice, dry weather.

National Oceanic and Atmospheric Administration (NOAA) published their long-term projections for April, May and June, and it shows above normal temperatures and dry conditions for the majority of the Corn Belt.

“Once planters roll, they keep rolling,” said Kub.

Brain Basting of Advance Trading, Inc. says during the April and May when many producers are planting, favorable weather conditions could change what crop gets planted.

“There’s a good chance those extra acres could surprise the market and go to corn when it’s all said and done,” said Basting.

With predictions like NOAA’s making their rounds through farm country, Kub suggests farmers get some sort of protection in place, such as have risk protection before the March 31 report comes out.

Watch Kub and Basting talk about the latest interest rate increase and what that means on U.S. Farm Report above.

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