Corn Farmers Respond to Market Signals (Source: RFA)
"The U.S. Department of Agriculture (USDA) has confirmed in March that American corn farmers are responding to the price signals from the marketplace to produce more corn. The USDA’s annual report detailing farmers’ crop planting intentions estimates that corn acres will increase to more than 90.5 million, a jump of 15% over last year. Assuming corn yields stay on their historic upward trend, America’s farmers will produce a corn crop in excess of 13 billion bushels. Such a harvest would produce ample corn supplies to economically meet the needs of all the sectors that rely on it. "
As a result there is less pressure on the corn market: above US$4 two months ago, the bushel is at US$3.7 today.
Let's listen to a farmer's point of view:
"The U.S. Department of Agriculture (USDA) has confirmed in March that American corn farmers are responding to the price signals from the marketplace to produce more corn. The USDA’s annual report detailing farmers’ crop planting intentions estimates that corn acres will increase to more than 90.5 million, a jump of 15% over last year. Assuming corn yields stay on their historic upward trend, America’s farmers will produce a corn crop in excess of 13 billion bushels. Such a harvest would produce ample corn supplies to economically meet the needs of all the sectors that rely on it. "
As a result there is less pressure on the corn market: above US$4 two months ago, the bushel is at US$3.7 today.
Let's listen to a farmer's point of view:
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