(Indianapolis) – March 31, 2023 – Indiana Farm Bureau’s Chief Economist Todd Davis is offering his insights on the latest National Agricultural Statistics Service (NASS) report released earlier this afternoon.
According to Dr. Davis, “Because 800,000 acres of the 3 million more acres of corn expected to be planted are in North Dakota, which is not a top corn-producing state, there is uncertainty that we will end up with the size of corn crop indicated in this report.” He added, “North Dakota often experiences significant corn prevented plantings, so the planned area increase in North Dakota may not materialize.”
Dr. Davis added, “Higher input prices are expected this year so farmers should keep an eye on budgets and take advantage of favorable pricing opportunities if and when they occur.” He also noted that even though more corn is predicted this year, the impact on price may not be as bearish as previously expected with lower prices and tighter profitability.
Read Dr. Davis’s full Prospective Plantings insights here.
About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.