There is now no question corn acres will be limited this year, and so will supplies. Lower export demand and hopes for a big Eastern European crop are now the focus.
Demand for dietary energy in feed rations is pulling distillers’ grains into feed formulas in place of corn, but also displacing some soybean meal in the process.
While timely planting is important, the advantages of an earlier planting date can be lost if tillage and planting operations occur when the soil is too wet.
Even though the May corn contract closed down 13 cents/bu. Friday, the price is still nearly a dollar higher than it was just 10 trading days ago, says Jerry Gulke, president of the Gulke Group.
Rising corn futures picked up momentum today after Informa Economics estimated that producers will plant fewer corn acres than USDA projected last month.
Corn for grain production is estimated at 12.4 billion bushels, down 1 percent from the Nov. 1 forecast and 5 percent below the record high production of 13.1 billion bushels set in 2009.
Tomorrow is the big day, the Jan. 12 Crop Production and World Agricultural Supply and Demand Estimates reports. Here’s what you need to know before the reports are released.