Corn hogs acreage increase

Although the 2011 battle for crop acreage isn’t completely over, the market now has a much better handle on what to expect as we move into the growing season. The long awaited Prospective Plantings Report indicated high prices will pull a little over 8 million more acres into total crop production this year compared to 2010.

Corn was the big winner with a 4 million-acre jump in planting intentions. The 92.2 million-acre estimate is the second largest since World War II and gives the corn market a fighting chance to rebuild its depleted stockpile. The national average yield will need to bounce back to 2009 levels for significant progress to be made on that front, but with soil moisture plentiful almost everywhere corn is grown in the United States that’s a strong possibility. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine and International Milling Directory from Perendale Publishers