Corn, soybean, wheat and cotton prices are at the highest levels in years which implies there will be more crop acreage in 2011, according to Gerald Bange, chairman of the Agriculture Department’s World Agricultural Outlook Board.
In a crops outlook report delivered at the American Farm Bureau Federation’s 92nd annual meeting, Bange said as much as 10 million more acres could move into crop production this year.
“We won’t know until we get the planting intentions report. It won’t be until June until we know for sure,” Bange said.
Strong prices and strong demand for cotton should mean more acreage will be devoted to that crop, according to Bange, but it is still uncertain what kind of increases are seen for corn and soybeans.
High prices and very low stocks for corn should mean more corn acreage in 2011, but Bange said indicators right now are actually pointing to more soybean acres.… Continue readingRead More »