Washington, DC
March 31, 2008
On the heels
of last year’s record-high corn production, U.S. farmers intend
to plant 8 percent fewer corn acres in 2008, according to the
Prospective Plantings report released today by the
U.S. Department of
Agriculture’s National Agricultural Statistics Service
(NASS). Producers plan to plant 86 million acres of corn this
year. While 7.6 million acres less than 2007, this would still
be the second-largest area since 1949.
The outlook for corn prices remains strong, thanks to increasing
ethanol production and other factors. Still, favorable prices
for other crops, along with crop rotation considerations and
high corn input costs, are motivating some farmers to switch
from corn. Iowa is expected to see the largest decrease in corn
acreage, down 1 million acres from last year’s record, to 13.2
million acres. Both Indiana and Minnesota are expected to drop
800,000 acres from their record highs of last year.
Nationwide, soybean acreage is expected to jump 18 percent, to
74.8 million acres. This is an increase of 11.2 million acres
from 2007 and is just 1 percent below 2006’s record high.
Acreage increases are expected in nearly every state, with the
largest growth in Iowa, up 1.25 million acres, and Nebraska, up
1.2 million. Increases of at least 800,000 acres are anticipated
in Indiana, Minnesota and South Dakota, while Kansas, New York
and Pennsylvania are expected to plant their largest soybean
crops in history.
Wheat acreage is also expected to rise in 2008, up 6 percent to
63.8 million acres. Winter wheat planted area, at 46.8 million
acres, is up 4 percent from last year. Expected acreage of durum
wheat is up 22 percent, to 2.63 million acres.
NASS estimates 2008 cotton plantings at 9.39 million acres, 13
percent below last year. Upland cotton acreage is expected to
total 9.19 million, the lowest level since 1983 and down 13
percent from last year. The largest acreage declines are
expected in Arkansas, Mississippi, Tennessee and Texas.
The Prospective Plantings report provides the first
official estimate of U.S. farmers’ planting intentions for 2008.
NASS’s acreage estimates are based on surveys conducted during
the first two weeks of March from a sample of approximately
86,000 farm operators across the United States. Prospective
Plantings and all NASS reports are available online at
http://www.usda.gov/nass/PUBS/TODAYRPT/pspl0308.pdf.
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