St. Louis, Missouri
March 9, 2007
Higher production and more planted
acres in South America are helping to offset drought conditions
in Africa and Australia, keeping corn prices steady,
the National Corn Growers
Association (NCGA) said.
“The latest reports show that producers around the world are
responding to higher prices by planting more corn,” said NCGA
President Ken McCauley. “This is more proof that we can meet the
world’s growing demand for food and fuel.”
According to the latest
World
Agricultural Supply and Demand Estimates
published by the U.S. Department of Agriculture (USDA), South
American producers are preparing to plant more of their winter
crop acres to corn, in response to higher prices.
U.S. corn planting for 2007 is projected to increase by anywhere
from 9 to 16 percent according to various estimates. USDA is
scheduled to release its final pre-season estimate at the end of
March.
Regardless of the final numbers, McCauley said the message is
clear. “The market has spoken, and corn producers will respond,”
said McCauley. “There should be plenty of corn for all needs.” |
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