There is a lot of discussion among grain traders as to what the final U.S. acreage mix will look like. The current weather pattern could lead to more corn acres. “There will be lots of corn planted this week,” says DuWayne Bosse, market analyst, BOLT Marketing. “We’re hearing from many farmers in southern Minnesota and the I-states that with crop insurance prices where they are, their bushel guarantee goes high even with the lower price. It may not look profitable on a spreadsheet, but they’re going to go ahead and plant corn.” The big unknown is how much prevented plant acres there will be. “If you’re a spreadsheet person, you’re going to look at the cost of production planting corn and the potential for a sharply lower price this fall. It looks like a heck of a loss at $100 an acre, plus. Prevent plant on a spreadsheet works, but farmers have to qualify for it.”
