Monday, February 21, 2011

2011 Outlook


Analysts Don’t Expect Big Crop Shifts This Year

Washington--The overall mix of crop production across the country this year is likely to be the same as last year, according to the Wall Street Journal. Prices of all commodities are soaring, and there shouldn’t be a big shift from one crop to another.

Analysts expect next month’s planting intentions report by the Agriculture Department will show only minor changes, which could help the price rally for farm commodities.

It will also prove difficult to put more cropland into production. Gerald Bange, chairman of USDA’s World Agricultural Outlook Board, signaled at AFBF’s annual meeting in Atlanta in January that 10.7 million acres could move into production this year, but some analysts believe this land won’t move into use because it is often less productive.

Wall Street Journal article

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