Rising input costs likely contributed to the bigger than expected decline in corn planting intentions. “If you didn’t lock in fertilizer prices last fall, you’re looking at higher prices now,” said Bryan Doherty, senior market advisor, Total Farm Marketing. “At the start of this war, I think farmers started to lean toward other crops. It looks like soybeans were the biggest recipients of the switch.” Doherty says the expected U.S. soybean plantings at nearly 91 million acres is a lot. “Carryout could have just gone up from 50 to 100 million bushels in soybeans and down in corn by 350 million.”
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