Farmers expect to plant the most corn in eight years on 97M acres

In Illinois, Reuters reports that USDA data shows corn farmers plan to plant the most corn in eight years at nearly 97 million acres despite corn prices collapsing on the back of falling ethanol demand in light of crumbling oil prices and the stay-in-place order resulting from the spread of COVID-19. The results were from surveys done during the first half of March, but with the market situation changing so rapidly, sentiment may change before planting actually begins although many farmers say there is no upside in changing.