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Acres Question
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farmernick
Posted 2/21/2021 11:18 (#8848494 - in reply to #8848413)
Subject: RE: Acres Question


Midwest
so if PP is only 2 mil acres in 2021 due to dry spring, and then it rains some and the bean price makes double crop bean acres attractive, it looks likely that the US will be able to get the usda estimates planted fairly easily. The big question, as usual, is the yields, and does China keep buying corn and beans and sorghum. It is in times like this that options really shine, spend some money for puts and wait and see how the weather turns out in July and August. I know options are expensive, but so is missing out on 4.50 new crop corn and 11.50 new beans if they drop to 3.50 and 9.00 by harvest.
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