Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 4/6/20


The Prospective Plantings report, released on March 31, indicated producer intentions to plant almost 97 million acres of corn in 2020.  Under current planting intentions and consumption trends, a massive corn supply appears feasible during the 2020-21 marketing year. 

Producer intentions to plant principal crop acreage show a 16.5 million acre increase from 2019. The USDA estimates that acreage planted to principal crops will total 319.1 million acres, on par with acreage levels in 2018. The planned increase in total planted acreage from that of a year ago is particularly acute in feed grain crops. Corn producers reported intentions to plant 97.0 million acres of corn this year, 7.1 million more than planted last year.  Sorghum acreage came in 555,000 acres higher than a year ago at 5.82 million acres.  Barley and oats increased by 200,000 and 202,000 acres, respectively.  The growth in feed grain acres holds implications for corn prices.  Soybean planting intentions indicated farmers plan to plant 83.5 million acres of soybeans.  The soybean acreage came in at the low end of market expectations.

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