Wednesday, December 28, 2016
AFBF Econ Team Delivers December 2016 Crop Market Update
Washington—The latest crop market report from AFBF economist John Newton, "The Acres They Are A-Changin,'" reviews USDA's long-term agricultural projections and what the numbers mean for commodity prices and farm revenue.
One of the most anticipated items from the early-release are USDA’s projections for planted area in 2017. During 2016, the total planted area for the eight principal crops and conservation reserve program was 277.9 million acres.
For 2017, USDA projects planted area to decline for all crops except cotton and soybeans, with a total acreage loss of 5.5 million acres to 272.4 million acres. Also in this month's report, Newton looks at EPA's updated RFS rules and what they could mean for growth in the biofuels market. Download the full December 2016 Crop Market Update at the AFBF website.