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USDA PREDICTS LARGEST CORN CROP SINCE 1937
The U.S. Department of Agriculture (USDA) recently released projections for large year-to-year increases in corn and wheat planting, a slight reduction in acreage for soybeans and a significant drop in cotton.
U.S. farmers will plant corn on 95.864 million acres this year, according to USDA. That’s up 4 percent from 2011 and higher than previously released pre-report expectations. If the forecast is realized, the total acreage would be the most corn planted in the U.S. since 1937, when the total stood at 97.2 million acres. USDA is projecting record acreage this year in Idaho, Iowa, Minnesota, North Dakota and South Dakota.
The U.S. soybean crop is forecast at 73.902 million acres, down 1 percent from the prior year. Total planted area for wheat is forecast at 55.908 million acres. That’s 3 percent higher compared to a year ago, but less than pre-report estimates. Winter wheat acreage is expected to decline 1 percent since USDA’s last estimate and spring wheat will be about 3 percent lower.
An 11 percent decline is predicted in cotton acreage. It is expected that just over 13 million acres of cotton will be planted.
To view the USDA's March 2012 Planting Prospective, click the link below:
http://usda01.library.cornell.edu/usda/current/ProsPlan/ProsPlan-03-30-2012.pdf.
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