Since global grain prices rebounded during 2019, market watchers are expecting farmers to plant more aggressively in 2020. Many are estimating record-breaking global corn and soybean crops, while wheat production could drop only slightly due to weather problems around the world.
For U.S. farmers, increased global production could mean more competition, even if the U.S. – China trade deal is signed later this month as expected.
In the coming months, American farmers will have tough decisions about how many acres to plant and which crops to put in the ground, as shifting weather, prices, and trade policies complicate their plans.