The coronavirus has a big impact on both the stock and commodity markets. “This idea that we could be or are in a recession is definitely a big concern for us,” says Rich Nelson, the chief strategist with Allendale.
According to the National Weather Service, farmers in the Midwest and eastern U.S. can expect above-normal precipitation in March, April and May. The Southwest and West are expected to see below-normal precipitation.
There’s bound to be multiple conversations about acreage mix in 2020. However, analysts are projecting their outlook from what they see now. One analyst says the prevent plant in the Northern Plains is a factor.