An estimate of the 2019 corn and soybean crops from Allendale, puts the carryout (the amount left at the end of the crop year) at 1.95 billion bushels and Soybeans at 475 million. Those can be considered slightly bullish numbers based on potential prices for 2020. A lot of if’s are attached: If China buys a normal amount of soybeans next year, if we have a normal growing season in 2020 and if some other market-distorting event does not spring up somewhere in the world.
Audio: Profit Matters 12-5-19
All that leads to John Block’s optimism about the U.S. Farm Economy. His commentary in a moment.
John Block’s commentary is underwritten by the National Corn Growers Association, CropLife America, and Renewable Fuels Association.