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U.S. corn planting target a struggle

04/26/2013 @ 9:55am

NEW YORK, New York(Agriculture.com)--With the U.S. corn planting pace sputtering, the likelihood of farmers dedicating the expected 97.0 million-plus acres to that grain is being questioned.

In its March Planting Intentions Report and Quarterly Grain Stocks Reports, the USDA pegged the U.S. corn acreage at 97.3 million, in line with the average analysts' estimate and compared to last year's seedings of 97.2 million.

For soybeans, the USDA estimates 2013 acreage at 77.1 million vs. the average analysts' estimate of 78.5 million and last year's seedings at 77.2 million.

VIDEO: Weather Challenges Corn Acreage Estimates 

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Pete Meyer of Petroleum International Research (PIRA), an independent analysis firm, says the market will have to start considering less U.S. corn acreage soon.

VIDEO: Critical Weather for Corn Planting 

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Kyle Tapley, MDA Weather Services analyst, says all eyes are on the weather patterns for the first two weeks of May.

Further into the northern U.S., MDA Weather Services analysts expect significant flooding along the Red River in the Dakotas, due to annual snowmelt from the Rockies. Plus, weather models are indicating significant heat stress for this summer's cotton crop in the South.

Meyer and Tapley presented here this week to a group of market participants at the MDA Weather Services Conference.

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