The United States Department of Agriculture (USDA) released its eagerly awaited Prospective Plantings report March 31, revealing U.S. farmers intend to plant 92.2 million corn acres (4.5% increase from 2010), 76.6 soybean acres (1 percent decrease), 12.6 million cotton acres (15% increase), and 58 million wheat acres (8.9% increase), in 2011.
USDA Chief Economist Joseph Galuber stated that while there were increases in most major field crops, the March 1 Grain Stocks report indicates continued strong demand and usage of each of these commodities, suggesting the current tight supply situation will continue into 2011 and 2012.
If realized, this corn crop will be the second-highest planted acreage in the U.S. since 1944. Acreage increases of 250,000 or more are expected in Iowa, Kansas, Nebraska, North Dakota and Ohio. South Dakota captured the largest intended increase with 850,000 additional acres, while Texas marked the largest decrease (150,000 acres), due to an increase in cotton exchange.
Intended soybean acres mark the third largest soybean crop on record. Compared with last year’s record planting intentions, declines of 100,000 acres or more are expected in Iowa, Kansas, Mississippi, Nebraska and Ohio. If realized, the planted area in New York and North Dakota will be the largest on record with 1.5 million and 4.35 million respectively.
Sources: USDA news release, Business Insider, Dairy Today