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Carryover impacting markets, planting intentions

A market advisor says some U.S. farmers are considering planting changes.

Mike North from Ever.ag says old crop supplies will influence those possible changes. “Corn stocks are very heavy. Bean stocks are relatively light, which keeps a little bit of value in corn relative to soybeans because beans are going to have to fight to get acres.”

North says so far, it appears the battle for acres depends on where you are. “The eastern corn belt seems to be looking at more bean acres this year whereas the western corn belt and some of the places in between maybe are leaning towards a more neutral rotation, not swinging one way or the other and just going with what they did last year.”

North says there are also questions about how sustained global demand could affect the acreage mix. The USDA’s Prospective Planting report is out at the end of March.