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99.0 million U.S. corn acres?

Updated: 12/19/2012 @ 2:34pm

Private analytical firm Informa Economics on Wednesday raised its outlook for U.S. corn acreage while lowering projected soybean and winter wheat plantings for 2013, traders said.

Informa, a closely watched crop forecaster, pegged corn plantings at 99.03 million acres, up from its October estimate of 97.7 million acres, traders said. The firm projected soybean plantings at 78.96 million acres, down from its October forecast of 80.1 million.

Informa lowered its winter wheat plantings estimate to 42.198 million acres from 42.5 million, traders said.

The report was considered bearish for the corn market, although prices had already been slumping Wednesday morning prior to the report's release. High crop prices are considered likely to compel farmers to plant as many acres as possible for the second straight year in 2013, although analysts say that current prices make corn planting more profitable than soybeans.

U.S. farmers planted 96.9 million acres of corn and 77.2 million acres of soybeans in 2012, along with 41.3 million acres of winter wheat last season, according to the U.S. Department of Agriculture. The corn acreage was the highest since 1937.

The firm is projecting an especially big jump in corn acreage in North Dakota. It sees corn acreage at 4.3 million in the state, up from 3.6 million in 2012 and nearly the double the 2011 total.

Informa also issued estimates for cotton, raising projected 2013 acreage to 10.065 million, up from 10.0 million last month. Farmers planted 12.12 million acres in 2012.

Write to Ian Berry at ian.berry@dowjones.com
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(END) Dow Jones Newswires
December 19, 2012 12:12 ET (17:12 GMT)
DJ Informa Economics Sees U.S. Corn Acreage Reaching 99 Million->copyright

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Where will the seed for this revelation of an acre 12/19/2012 @ 8:39pm This is the problem with american agriculture, some educated dumba** sitting behine a desk has figured out that we will plant 99 million acres of corn...YET the seed companies has the worst production year in history and have a huge lack of seed in inventory...It is Christmas, the dought has gotten worse not better and yet we already know what we will plant and harvest....I guess if those informa people are so good at predictions I think they should just start growing all this corn and prove to us how it is done.....This is a joke, the sad part is they drove the price down today with a bullshit estimate....I wish I could make their Christmas that merry by dropping their paycheck by 10%..........

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Re: Re: Where will the seed for this revelation of an 12/19/2012 @ 8:49pm My spell check worked great on my comment....!!!!

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