How Much Corn Will Farmers Plant?
Posted: March 28, 2008
That’s the multi-million dollar question on the minds of lots of people right now - one that will be answered to some extent by the USDA’s first educated guess on Monday morning when the prospective plantings report is released.
Business Week did an article today about those who are eagerly anticipating the report - from livestock producers to the ethanol industry to market analysts.
Here are a couple of quotes from the article:
“Everybody is looking to see what that report is going to look like,” said Bob Dinneen, a spokesman for the Renewable Fuels Association. “Everybody is anxious, us included.”
Mindy Williamson, a spokeswoman for the Iowa Corn Growers Association, said the ethanol-fueled demand for corn has changed the dynamics.
“Before we weren’t in a demand-driven market,” she said. “Now, it’s all about demand and you have a choice about where we want to sell (corn) and who you want to sell it to. There are still other things beyond farmers’ control, like weather, but it’s a good time.”