Surprisingly low US acreage - sharp price jumps on the stock exchanges The results of the survey of US farmers' acreage in 2021 surprised the expectations of market participants. The prevailing assessment was that due to the current high prices, the acreage would be expanded considerably. The US farmers, however, have grown or planned differently. The current cultivation of the maize cultivation area is expected to increase by less than 1% to 36.88 million hectares; Almost 40 million hectares were expected. The soybean areas to be cultivated in April / May should reach 35.46 million hectares. Expectations were up to 38 million ha. The summer wheat acreage at 4.68 million ha is expected to be -4% lower than in the previous year. However, winter wheat cultivation rose by 9% to 13.25 million hectares. The inventory of inventories as of 1 Mar. 2021 was less spectacular, but contributed to the worsening of the market and price outlook at.The maize stocks were determined to be 195.6 million t. In the previous year it was 202 million t. Soy stocks are lower at 42.6 million t compared to the previous year with 61.4 million t. At 35.76 million t, the wheat stock is considerably below the previous year's level of 38.5 million t. Low stocks in connection with a lower harvest expectation due to cultivation leads to a significantly tighter assessment of the future supply situation in one of the world's largest production areas. The reactions on the stock exchanges followed immediately: the prices rose to the permitted limit-up. Corn suddenly rose in price by almost € 9 / t. Wheat as a possible substitute product went along with it. Soybeans rose by almost € 30 / t.The further development is now primarily based on the weather-dependent expectations of the area yield . The cultivation conditions already play an important role, followed by the growth conditions in the vegetation phases that are decisive for yield.
