The USDA March 31 report, which included planting intentions and a few surprises, so we polled our Farm Progress PANEL members to learn if the report shook up any 2021 plans. The short answer is "no."
It appears readers have their game faces on, they're planters prepped and they're ready to move ahead as the weather cooperates. We asked a simple question but added some variety to the answers.
The question? With the latest USDA numbers how do your plans change? Nearly 80% responded that they are sticking with their rotations. Perhaps not a huge surprise, but these days being flexible can be an advantage. Given the corn/soybean price ratio, even that planting report isn't pushing for big seed switches, it appears.
As for flexibility? About 5% say they will change to plant more corn for 2021. It's not a big group, but for them the corn numbers are looking better. And given how the last six years have been, having more corn in the rotation may feel more comfortable for these respondents.
We did find that a small number of farmers replied they were finally selling their old-crop corn and soybeans. It was 4%, but it was some movement.
As for that 2021 crop? 13% of respondents noted they've started pricing that crop in the market now. Striking when profits are hot is always a good idea. This is information farmers will be tracking, and with easier access to market data through your smartphone – including the Farm Futures app – that's easier than ever. (And yes, that was a shameless plug).
As planters start rolling, weather becomes the next hurdle. But even during the busy season capturing value from that future crop will be important.
Thanks to everyone who responded to this PANEL.
Be a part of the PANEL
The Farm Progress PANEL is your chance to share your thoughts on key issues. To take part, start by signing up for our daily mobile text service Farm Progress NOW. Just text FARM to 20505, then respond to the text you get back. Later in one of our daily texts we'll provide information about how to sign up for the PANEL. And thanks to the respondents for helping us out.