USDA Economist: Corn Plantings Up, Cotton Down
Sunday, February 26th, 2012
USDA's chief economist projects the highest corn plantings since 1944, a decline in cotton plantings due to lower prices and a small increase in rice acreage for 2012. Speaking at the USDA's Agricultural Outlook Forum 2012 in Arlington, Va., Joseph Glauber also projected higher wheat acres this year. Here's more:
Corn plantings, estimated at 94 million acres, would be the largest plantings since 1944. Soybeans are projected at 75 million acres, unchanged from 2011, but down 1.6 million from last year's intentions which were not achieved partly due to excessive moisture during planting, especially in the upper Midwest.
Lower prices will likely result in a decline in upland cotton area to 13 million acres. Rice plantings will likely increase 2.3 percent to 2.8 million acres. Most of the increase is expected to occur in long grain rice in the Delta where farmers were prevented from planting substantial intended acreage by early season flooding in 2011.
Read More: Delta Farm Press