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NW Indiana | If we just discussed acres I would say it makes the most sense that wheat has suffered the most pain. In 2008 we planted 86 million acres of corn, 76 million acres of beans and 63 million acres of wheat. In order to meet anticipated demand 10 years later corn needed to gain 6 million, soybeans gain 10 million(totally debatable because of trade war) and wheat has LOST 16 million acres.
Another thing I would throw out there is the ethanol boom and china soybean demand is really what created this new price plateau so it would make sense to me that those two are much less likely to need to feel the pain. Take 2019 corn demand, most likely over 15.1 billion bushels needed, that doesn't sound like a number to me that makes the need for corn grower pain. | |
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Is the grain bear market over?
