21st Sept 2012, by Agrimoney
US farmers raised corn and soybean sowings even further than officials have revealed, Informa Economics said – and forecast that seedings for next year's harvest will increase even further.
The influential analysis group pegged corn sowings for the ongoing harvest at 97.172m acres, up more than 750m acres on the current US Department of Agriculture estimate, and the highest since 1937.
Soybean plantings were 77.143m acres, Informa said, up nearly 1.1m acres from the USDA figure.
The revisions are based on analysis of data from growers' returns to the Farm Service Agency, which handles farm support payments, and which Agrimoney.com said on Monday suggested corn and soybean area was higher than had been thought.
Highest in 77 years
And Informa forecast a further increase in sowings next spring.
At 97.537m acres, corn sowings would be the highest since 1936, and above a figure of 96m acres forecast last month by fertilizer group CF Industries which was questioned as generous by many observers.
Soybean area, at 79.872m acres, would be a record.
Wheat plantings would rise too, by some 1.1m acres to 57.1m acres, although this figure is behind acreage rise expectations from some other observers, including broker Benson Quinn Commodities and Texas A&M University.
The increases would come in part at the expense of cotton, for which area will drop 2.3m acres to 10m acres.
US farmers raised corn and soybean sowings even further than officials have revealed, Informa Economics said – and forecast that seedings for next year's harvest will increase even further.
The influential analysis group pegged corn sowings for the ongoing harvest at 97.172m acres, up more than 750m acres on the current US Department of Agriculture estimate, and the highest since 1937.
Soybean plantings were 77.143m acres, Informa said, up nearly 1.1m acres from the USDA figure.
The revisions are based on analysis of data from growers' returns to the Farm Service Agency, which handles farm support payments, and which Agrimoney.com said on Monday suggested corn and soybean area was higher than had been thought.
Highest in 77 years
And Informa forecast a further increase in sowings next spring.
At 97.537m acres, corn sowings would be the highest since 1936, and above a figure of 96m acres forecast last month by fertilizer group CF Industries which was questioned as generous by many observers.
Soybean area, at 79.872m acres, would be a record.
Wheat plantings would rise too, by some 1.1m acres to 57.1m acres, although this figure is behind acreage rise expectations from some other observers, including broker Benson Quinn Commodities and Texas A&M University.
The increases would come in part at the expense of cotton, for which area will drop 2.3m acres to 10m acres.
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