Play Turner’s Take Ag Marketing Podcast Episode 350
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Planting intentions were bullish soybeans and spring wheat but bearish for new crop corn. Given 87.5 million acres of new crop soybeans and a trend line yield of 52 bpa, ending stocks stay tight year over year. Spring wheat acres were 10.5 million and I think it needed to be closer to 11 million to help ease prices. Corn was 1 million higher and came in at 92 million. With a trend line yield of 181 bpa, new crop corn ending stocks could expand to 1.9 billion. My big takeaway is soybeans will be very volatile this spring and summer. Old crop soybeans are tight and now new crop looks to be tight too. This should also be supportive for canola. Make sure you take a listen to the latest Turner’s Take Podcast
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