Estimate soybean crop at 44.5 mmt (USDA @ 49.5 mmt)
Estimate corn crop at 55 mmt (USDA @ 54.5 mmt)—initially estimated crop at 57 mmt
Estimate wheat crop at 22 mmt (USDA @ 20 mmt)
Soybean crop so far rated better than early January LY but conditions are declining
No cut back in fertilizer use—farmers locked in price/supply earlier in 2021
Look for increase in D-Crop soybeans are following 250K acre gain in winter wheat area
January rains critical for establishing strong start to D-Crop soybean germination
