Will farmers shift from corn to beans?

Planting intentions

Ethanol may get moved by today’s grain report. In the kick-off to the U.S. grain crop the Planting Intentions report is expected a movement of farmers back to beans away from corn. Farmers had been planting a lot of corn as ethanol demand was soaring. Yet with soybean prices and demand very strong one would expect to see more beans over corn. We also should see more acres planned as fields that were lost to flooding should return. On top of that we will get export inspections which have been on signaling strong demand.

Grains stock expectations for corn 7.099 million bushels and planted acres of 92,748; for beans stocks at 989 billion bushels and planted acres of 989 million. Wheat stocks are expected at 1.042 million bushels and acres at 42.157 million acres for all wheat at 56.277.  

About the Author
Phil Flynn

Senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report. You can contact Phil by phone at (888) 264-5665 or by email at pflynn@pricegroup.com. Learn even more on our website at www.pricegroup.com.

 

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