USDA released the first Grain Stocks and Planting Intentions report of 2021 on March 31. This report provides quarterly updates about current grain stocks, as well as a survey-based estimate of 2021 planting intentions. This year farmers have several profitable options to choose from. While corn prices went up by over 70% since August of last year, soybean prices are also back in a profitable range.
The most surprising part of the report had to do with on-farm stocks, which are down 41.3%. At these levels, procuring soybeans from within the US may prove difficult come summer. . .
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