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Friday, March 30, 2012

Planting Intentions:  Corn Acres Up At Expense Of Beans And Cotton



 

The US will have more corn acres than any year since 1937.  At least that is the intention of farmers surveyed by USDA in early March as statisticians assembled the 2012 Planting Intentions Report.  In brief, corn acreage will be at 95.9 million, which is up 4% from last year.  Soybean acres will be declining by 1% from last year to 73.9 million.  Wheat acres are up 3% from last year to 55.9 million.  Some of the extra acres are coming at the expense of cotton which will be down 11% from 2012.

In 1937, US farmers planted more than 97 million acres of corn by all estimates, and 2012 acres will encroach on that, by intending to plant 95.864 million.  That was the 2012 Planting Intentions report from USDA Friday morning.
Within the Cornbelt, Illinois farmers will drop from 12.6 million the past two years to 12.5 million in 2012, but that shortfall will be more than covered by 500 thousand additional acres in Iowa, 200 thousand more in Indiana, 600 thousand more in Minnesota, and 450 thousand more acres in Nebraska.  Increased acreage was also reported of 400 thousand in Ohio and 300 thousand in South Dakota.

USDA also reported, “Planted acreage is expected to be up in most States compared to last year due to expectations of better net returns in 2012 compared to other commodities. Record corn acreage is expected in Idaho, Iowa, Minnesota, North Dakota, and South Dakota, while acreage is expected to decrease in the central and southern Great Plains which experienced severe drought and above normal temperatures in 2011.”
Illinois-12.5 million—down from 12.6 million
Indiana-6.1 million—up from 5.9 million
Iowa-14.6 million—up from 14.1 million
Michigan-2.6 million—up from 2.5 million
Minnesota-8.7 million-up from 8.1 million
Missouri-3.3 million—no change
Nebraska-10.3 million—up from 9.85 million
North Dakota-3.4 million—up from 2.23 million
Ohio-3.8 million—up from 3.4 million
South Dakota-5.5 million—up from 5.2 million
Wisconsin-4.2 million—up from 4.15 million

For Soybeans the 73.9 million acres is a 1% drop from last year and down 5% from 2010.  USDA says, “Compared with 2011, planted area is down or unchanged across the Corn Belt and Great Plains with the exceptions of Illinois, North Dakota, South Dakota, and Wisconsin.”  Illinois will replace the 100 thousand acre decline for corn with an additional 100 thousand acres of soybeans compared to 2011.  But the switch will go the other way for Iowa, where soybean acres will decline by 550 thousand.  USDA also said, “Compared with last year, planted acreage intentions are down in many areas as some acreage is expected to shift to corn. Additionally, soybean acreage intentions in Kansas, Oklahoma, and Texas are down from 2011 due to drought conditions that have continued from last year into early March. If realized, the planted area in New York and North Dakota will be the largest on record and the planted area in Pennsylvania will tie the previous record.”

Illinois-9 million—up from 8.9 million
Indiana-5.1 million—down from 5.3 million
Iowa-8.8 million—down from 9.35 million
Michigan-1.9 million—down from 1.95 million
Minnesota-6.9 million-down from 7.1 million
Missouri-5.1 million—down from 5.35
Nebraska-4.7 million—down from 4.9 million
North Dakota-4.2 million—up from 4.0 million
Ohio-4.55 million—no change
South Dakota-4.3 million—up from 4.1 million
Wisconsin-1.68 million—up from 1.61 million

Summary:
Corn acreage will be increasing in 2012, thanks to higher revenue.  Farmer intentions surveyed by USDA early in March were based on an increased advantage for corn revenue over soybeans.  Most Cornbelt states will be increasing their corn acres at the expense of soybeans, and will also be planting more corn in areas traditionally planted to cotton and spring wheat.

Posted by Stu Ellis on 03/30 at 11:21 AM | Permalink

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