A Missouri farmer isn’t putting too much stock into the USDA’s Prospective Plantings report showing lower than expected acreage for corn and soybeans.
Richard Oswald tells Brownfield Wednesday’s bullish report won’t affect the market long-term.
“It doesn’t matter what an estimate is, it only matters what we [farmers] actually did…,” he said “We’ll probably, at some point here before too long, see a price correction in soybeans and corn both just because it’s still an unknown fact [of] what those planted acres are going to be and they can change in a day.”
The Atchison County farmer says he’s skeptical about the accuracy of USDA’s acreage estimates across the board.
