During the USDA’s Ag Outlook Forum, the agency estimated an increase in corn and soybean acres for 2021. Total Farm Marketing Senior Market Advisor Naomi Blohm says a lot can change between now and spring. “Wheat is also an unknown and for North Dakota, there may be a decline in spring wheat acres,” says Blohm. “Even with larger acres, we still need perfect weather this summer. Otherwise, smaller ending stocks are still a risk. If ending stocks are smaller, this will keep prices steady to higher.” Blohm says the drought is not over. “We have a long way to go to recharge the soils. The world is very much aware of the dire situation.” Blohm was part of a marketing panel during the first day of the virtual Northern Corn and Soybean Expo.
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