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Corn truly king again in 2016

[/title][fusion_text]Monday, April 25th 2016

Corn truly is king again and in 2016, United States farmers are expected to plant 6 percent more corn than they did in 2015. The U.S. Department of Agriculture released the Prospective Plantings report saying U.S. farmers are expected to plant 5.6 million more acres of corn in 2016, for a total of 93.6 million acres total. If farmers plant this amount of corn, it will represent the highest planted acreage since 2013, and the third highest planted acreage in the U.S. since 1944. USDA also released the Grain Stocks report, showing corn stocks at 7.81 billion bushels on March 1, 2016, up 1 percent from the same time in 2015. Soybean growers are expected to plant an estimated 82.2 million acres, down less than 1 percent from last year. Compared to last year, planting acreage intentions are down or unchanged in 23 of 31 estimating states. Soybeans stored as of March 1, 2016, totaled 1.37 billion bushels, up 20 percent from one year ago.

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