Heavy Lifting - thoughts and web finds by an economist
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Friday, March 30, 2007
From Southeastern Farm Press:
U.S. corn producers are expected to plant 90.5 million acres of corn this spring -- the highest acreage planted in 63 years. According to USDA's March 30 Prospective Plantings report, released this morning, the increases are coming at the expense of cotton and soybean acres, down 20 percent and 11 percent, respectively.Let's see, supply of corn increases and the price of corn might well decline, but it's not guaranteed. On the other hand, if the supply of cotton and soy decline, without foreign imports to offset the reduced supply, the price of those two products should increase.
I'd say buy some futures in soy and cotton, but it's too late.
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