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June planting report won’t have all the details

An ag economist says it could take months to understand what farmers actually planted this year.

“The slow progress has really been everywhere, but it’s been especially painful for producers in the Eastern Corn Belt, parts of Illinois, Indiana, Ohio, Michigan, and also South Dakota.”

David Widmar with Ag Economic Insights tells Brownfield the June acreage report will only be collecting data for the first half of June which leaves blind spots on how some farmers finish their season.

“Mother Nature has implemented a supply management program here in the U.S. after five years of big record crops.  It looks like we’re going to have the potential for crops below where we initially set the peg back in May and that’s positive news for the ag economy.”        

December futures have rallied between 80 cents and a dollar which Widmar says has been positive for farmers with crops in the ground.

USDA’s June supply and demand report reduced planted corn acres by three million and yields by 10 bushels per acre.  Widmar says USDA is also considering resurveying some states to get more accurate planting data.