UDSA’s March 31 Prospective Plantings report forecast increases in planted corn and soybean acreages for 2023. USDA’s Grain Stocks report, also released March 31, reported year-over-year decreases in corn and soybean stocks vs. 2022.
USDA's issued its Prospective Plantings report last Thursday and it got the attention of most industry observers as it projected the most acreage planted to corn in 75 years. At the same time, it forecast that soybean and wheat acres would slip below 2011 plantings.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.