Friday, July 1, 2011

Just in from Washington

USDA: More Corn Planted in 2011

Washington--Despite floods and bad weather that pushed many farmers to the brink this planting season, the USDA says 5 percent more corn was planted this year than last. They added that 92.28 million acres were planted to corn, roughly 4 million more acres than were planted last year.

Corn was by far the biggest surprise in the report, with the official report exceeding all major trade analyst estimates. The 2011 planted corn crop is the second largest since 1944, eclipsed only by 2007. USDA also expects 84.88 million acres of that corn to be harvested this fall, which is up 3.44 million acres from last year.

Planted soybean acres, on the other hand, are pegged at 75.2 million acres, which is down 3 percent or about 2.2 million acres from last year. USDA expects that 74.25 million acres of soybeans will be harvested this year, a 2.35 million acres decline from last year.

Other highlights show: wheat acres at 56.4 million acres, up 5 percent from 2010; cotton acres at 13.7 million, up a whopping 25 percent from last year; and rice acres at 2.67 million, down 960,000 acres from 2010.

DTN Story

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