American Farm Bureau’s top economist says USDA’s acreage report was a nice boost for corn prices, but there is still a lot of corn in the bin and in the field. John Newton says, “We’ve still got a big crop out there. We’re likely to have record yields. Even though we’ve taken some of the acreages offline, we’ve still got big supplies to work through.”
Newton tells Brownfield the USDA’s adjustment of corn acreage put a shot in the arm for new crop corn prices, but there are still uncertainties about future corn demand.
