Home / News / Crops news / Firm backs off sky-high corn acreage guess

Firm backs off sky-high corn acreage guess

Jeff Caldwell 03/12/2013 @ 5:15pm Multimedia Editor for Agriculture.com and Successful Farming magazine.

Remember that 99-million-acre corn crop for 2013 forecasters were calling for earlier this winter? That may have been a bit of a stretch after all.

A key leader with Informa Economics said Tuesday that early estimate is likely too high, and that the number could be as low as 95 million acres. What's most likely, says Informa's CEO Bruce Scherr, is a split of the difference with a crop in the "97-ish million-acre" range, according to a report from Dow Jones Newswires.

The reason for the shift is soybeans; more of them will likely be planted after a recent rise in profit potential. Now, Scherr says the soybean crop in 2013 will likely be closer to 80 million acres after earlier estimates called for a crop closer to 78 million acres.

On top of the backpedal in his firm's corn crop size outlook for 2013, Scherr said Tuesday the corn market could see some wild fluctuation this summer -- as high as $10/bushel and as low as $4/bushel -- depending on how the lingering drought unfolds into the crop season.

   

CancelPost Comment
MORE FROM JEFF CALDWELL more +

FCC Approves Net Neutrality; Will Rural… By: 02/26/2015 @ 1:22pm Most of rural America doesn't have the broadband Internet access their city neighbors have…

3 Things to Watch This Morning, Thursday… By: 02/26/2015 @ 6:28am Keep an eye on soybean basis today. Earlier this week, analysts said cash corn basis levels were…

Are Farmland Cash Rents Going to Fall or By: 02/25/2015 @ 11:49am Last week's USDA Ag Outlook Forum painted a picture of a corn market that could remain in the…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Top Talk: Conservation Payments, Land Rents &Brazil Truck Strike
Agriculture.com

FREE MEMBERSHIP!

CLOSE [X]