Corn Acres Should Be Reconsidered in 2020
USDA’s recent Prospective Plantings report, conducted during the first two weeks of March and prior to the impact of COVID-19 on the farm economy, revealed that farmers intended to plant 97 million acres of corn this spring – up 7.3 million acres, or 8%, from 2019 and the highest since 2012. Since corn farmers were surveyed, COVID-19 has changed the outlook for the global and farm economies and led to sharply lower ethanol and corn prices across the U.S., i.e., Coronavirus Sends Crop and Livestock Prices into a Tailspin.