With Black Sea grain exports shut down and uncertainty about next season’s crop the industry has been looking for supply solutions. University of Illinois Ag Economist Dr. Scott Irwin says USDA should consider the release of Conservation Reserve Program acres. He says a historical event may take radical action to remedy like releasing CRP for a year.
He thinks the move could generate several million acres out of the 22 million acre CRP bank.
Irwin isn’t sure if USDA or the Biden administration will have the political will for this type of action and may fall back on other emergency measures used previously with CRP.
He says getting those CRP acres planted may be difficult just based on the shortage and high price of inputs like fertilizer. Irwin admits those acres will likely yield lower than average but says it would still provide some relief for the market.
