AGRIBUSINESS: Growers Intend to Plant More Corn, Less Soybeans & Cotton
USDA’s National Agricultural Statistics Service has released the Prospective Plantings report - providing survey-based estimates of the planting intentions of U.S. farmers in 2013. According to the report - the nation’s farmers plan to plant a record-high combined 174.4-million acres of corn and soybeans. Corn growers intend to plant 97.3-million acres. The planned acreage is slightly higher than last year and six-percent higher than in 2011. If realized - this would represent the highest planted acreage in the U.S. since 1936. The nation’s soybean growers expect to plant 77.1-million acres of soybeans in 2013 - which would mark the fourth highest acreage on record. The figure is down slightly from last year - but up three-percent from 2011.