Friday, June 29, 2012

A record corn crop . . . maybe

-- Update 7.10.12--
About 60 percent of the corn grown in the U.S. is facing moderate to severe drought conditions. Thus, what forecasters thought was going to be a record crop, based on planted acreage, is likely to be the smallest crop in several years.  Look for feed prices to keep increasing.

U.S. farmers planted 96.4 million acres of corn, up 5 percent from last year, making it the highest corn acreage in the last 75 years, according to the Acreage Report released today by the U.S. Department of Agriculture's National Agricultural Statistics Service. This marks the fourth year in a row of increases in corn acreage in the United States.

Favorable field conditions across much of the major corn-producing region helped corn growers get off to a fast start in 2012. By May 20, the planting was nearly complete, representing the quickest planting pace on record. Virtually all of the acreage had emerged by June 3.

U.S. soybean growers also reported a significant acreage increase this year. According to the report, 76.1 million acres have been planted to soybeans, up 1 percent from 2011. This is the third-largest soybean acreage on record.

The Acreage Report is available at

Reprinted from ASI Weekly News, 6.29.12

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