Weather Brings Planting Questions April 17, 2023
By historical standards delayed planting in North Dakota does not really impact corn as much as people think. Aside from the wild moisture year of 2020, where plantings fell -39% from intentions, the other years show only -5% to -18%. We have -20% which captures all reasonable possibilities. We also have harvested acreage of 90.8% instead of a normal 94% and a 10% cut from trend yields. That drops acreage by 0.750 million. Our current ND corn production estimate of 338 million would be under a "no problem" forecast of 486 but not as bad as we were previously estimating.
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Possible light fund short covering yesterday
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