94 mln corn acres projected
U.S. farmers will plant 94 million acres of corn and 75 million acres of soybeans in the 2012-13 marketing year, which would mark the largest corn plantings since 1944, U.S. Department of Agriculture Chief Economist Joe Glauber said Thursday.
The corn projection was identical to the USDA's baseline forecast issued this month. The soy figure was up from a baseline forecast of 74 million acres. The baseline projections were compiled in November as part of the government's budget process.
In the 2011-12 marketing year, farmers planted 91.9 million acres of corn and 75 million acres of soy. Recent high corn prices have made farmers more likely than usual to plant corn instead of soybeans, according to analysts.
Glauber also said in a speech at the USDA's annual outlook forum that farmers would plant 58 million acres of wheat, up from the baseline projection of 56.5 million acres, and up from 54.4 million in 2011-12.
The figures, the USDA's own projections, are not based on a survey of farmers.
-By Owen Fletcher and Bill Tomson, Dow Jones Newswires; 312 750 4120, firstname.lastname@example.org
(END) Dow Jones Newswires
February 23, 2012 09:23 ET (14:23 GMT)