According to North Carolina State University Extension specialist Nicholas Piggot, solid risk management – has never been more important – for producers of the nation’s major commodities. The economist told attendees of the AFBF Convention, that he anticipates – another fierce acreage-bidding war – this season. Concerning producer reaction to strong market signals, he said – this is fantastic for you farmers

Piggott added – acreage is not limited, – and tight corn stocks and continued high prices should translate to a significant boost in nationwide corn acreage, likely at the expense of cotton and possibly soybean production. Piggott noted 2011 was a “great year” for corn, cotton, and wheat but only a “moderate year” for soybeans, and this season’s U.S. bean market outcome may depend largely on South American weather and its impact on foreign supply.