USDA Lowers 2011 Cotton Estimate, Increases Corn, Soybeans
Thursday, January 12th, 2012
USDA lowered its estimates for 2011 cotton production and projected slightly larger crops for corn and soybeans in its Jan. 12 Crop Production report.
USDA estimates U.S. cotton production at 15.67 million bales, down 1 percent from last month and down 13 percent from 2010. Yield is estimated at 772 pounds per acre, up 1 pound from last month’s forecast, but down 40 pounds from last year. Harvested area, at 9.75 million acres, is down 1 percent from December and down 9 percent from last year.
Corn for grain production is estimated at 12.4 billion bushels, up slightly from last month but 1 percent below 2010. The average yield for 2011 is estimated at 147.2 bushels per acre, up half a bushel from the previous forecast but 5.6 bushels below the 2010 yield of 152.8 bushels.
Read More: Southeast Farm Press