Informa updates acreage forecasts
USDA will update its planted acreage report on June 29.
Published: Jun 15, 2012
U.S. farmers will plant 96.759 million acres of corn and 75.959 million acres of soybeans in 2012, according to projections by private analytical firm Informa Economics.
Informa's corn-acreage estimate is up 4.83 million from last year, and 895,000 above the U.S. Department of Agriculture's estimate in March of 95.864 million.
Rapid corn planting in the spring is believed to be a feature in the corn acreage being up more than 600,000 acres from Informa's May estimate as planting momentum added corn acreage versus earlier expectations, Informa said, according to trade sources.
Informa had been expecting additional corn acreage due to last season's profitable experience despite yield losses combined with the recognition that corn has more upside yield potential than other crops, namely soybeans, Informa said, according to trade sources.
The firm's soy-acreage forecast is up 983,000 acres from last year, 2.1 million above the USDA's March estimate and 137,000 above Informa's May estimate. Compared with Informa's May area estimate, the eastern corn belt is expected to plant 30,000 fewer acres while the western corn belt is up 50,000, traders said Informa noted in the forecast.
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