AgMarket.net releases estimates
AgMarket.Net®, an agricultural brokerage and consulting firm, is announcing its acreage estimates ahead of USDA’s Prospective Plantings report.
AgMarket.Net® partners believe corn acres could exceed the 90-million-acre mark.
“Profit margins during the last several years have been awfully strong,” says co-founder Matt Bennett. “The company feels as if we might pick up swing acres due to the amount of money that’s been made, strong soybean acres during the 2022 growing season and fertilizer prices dropping quite a bit over the last several weeks. The spring crop insurance price of $5.91 should help sustain decent profit margins, even in the face of higher input prices.”
The company pegs its soybean projection just below 88 million acres.
“We felt all along soybean acres would probably be within roughly three million acres of corn,” says Bennett. “Beans have tried to buy acres at times over the last few weeks as we approach spring. Yet, it seems as if they’ve given up a little ground.”
AgMarket.Net® is not anticipating a major change with wheat acres as the adjustments are likely between corn and soybeans. Representatives of AgMarket.Net® used a hands-on approach to receive its estimates. The company spoke to its consulting and hedging customers on their acreage mix, input costs and weather conditions.
Representatives also traveled throughout the country to numerous trade shows, events and speaking engagements to talk with farmers about their decisions for 2023. The company used its contacts in the transportation, input space and commercial business as well.
AgMarket.Net® is the farm division of John Stewart and Associates. JSA is a forward-thinking agricultural marketing, consulting firm and full-service commodity brokerage based out of St. Joseph, MO.