With 2011-12 marketing year-ending stocks of U.S. corn
expected to be near pipeline levels, the size of the 2012 crop has substantial
price implications. Acreage intentions will be revealed in the USDA’s March 30
Prospective Plantings report, but much of the current discussion
centers on prospects for the U.S. average corn yield.
Widely differing views of yield prospects for 2012 have
emerged. A number of factors may contribute to the diverse views, but four have
received a lot of attention. These include (1) the timing of planting, (2) the
magnitude and potential change in the trend yield, (3) expected summer weather
conditions, and (4) the location and magnitude of acreage changes. A brief
discussion of these factors follows, with more detailed analysis to be provided
in upcoming posts at farmdocdaily. <Read More>
No comments:
Post a Comment