June 30, 2021
USDA Acreage Report & June 30th Outlook Update
According to today’s (June 30) released numbers by USDA’s National Agricultural Statistics Service (NASS), the acreage estimate came in on the low end of expectations. Purdue ag economists James Mintert, Nathanael Thompson, and Michael Langemeier provide a discussion of the implications for corn and soybean markets following USDA’s release of the June Acreage report on this episode of the Purdue Commercial AgCast.
The Acreage and Grain Stocks reports are available online at www.nass.usda.gov.
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Margaret Lippsmeyer presented during agri benchmark’s 2024 annual conference in mid June, which was hosted by the Spanish Ministry of Agriculture in Valladolid, Spain. An increase in soybean acreage may come from either (a) shifting away from continuous corn rotations to corn-soy and (b) shifting corn-soy rotations toward corn-soy-soy. Based on agri benchmark data, Margaret showed that option (a) would require an increase in soybean prices of 6% and option (b) of 8% to make these rotations preferable over existing ones.
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