Basse says stocks are already a large number. However, he thinks farmers may potentially have larger problems to solve if corn acres are high and ethanol demand stays low.
USDA projections show a large corn crop of 97 million acres could be planted this year. However, a lot happens in a market influenced by COVID-19, crude oil and ethanol
USDA estimated that U.S. growers will plant 97 million acres of corn this spring, an 8% increase over 2019, but analysts say recent sharp declines in ethanol production make it
USDA reports stocks of corn, soybeans and wheat have fallen.
The March WASDE report shows little change in global corn and soybean supply and demand.
USDA released a slew of reports of Friday, initially sending markets lower.
USDA Grain Stocks Report