With commodity prices significantly higher than last spring, U.S. farmers plan to plant 3.99 million (4.5%) more corn acres, 3.89 million (8.2%) more wheat acres, and 1.59 million (15%) cotton acres than last year according to the Prospective Plantings report released today by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS). In all, farmers reported intentions of planting 323.8 million acres across the 21 major crops surveyed for this report, a 7.09 million (2.2%) increase from 2010 but still 1.21 million acres below the 2008 total.
“Despite increased plantings for most major field crops as reported in today’s Prospective Plantings report, the March 1 Grain Stocks report indicates continued strong demand and usage for these commodities. This suggests the current tight supply situation will continue into 2011 and 2012,” said Joseph Glauber, USDA Chief Economist.
The largest increase in corn-planted acreage in 2011 is expected in South Dakota where growers intend to plant an additional 850,000 acres compared to last year when wet field conditions during planting prevented many from getting all of their intended acreage seeded.… Continue readingRead More »