A year of comfortable supplies

February 27, 2009 06:00 PM
 

 

A year of comfortable supplies
 
That's the bottom line from crop outlook sessions at USDA's Ag Outlook Conference. That's despite expectations that area planted to major crops is expected to decrease. Planted acreage of wheat, corn, barley, oats, sorghum, soybeans, upland cotton and rise is projected at 247.6 million acres, down 5.2 million from 2008. Although soybeans are projected at a record 77 million, up 3.24 million from last year, double-cropped soybeans could be off 2 million due to the extent of lower winter wheat acres in states that typically double crop. Prices for all the major crops will be down from last year's strong levels, USDA reports. –Linda Smith
 
Crop         Acreage     Change from 08     Production       End stocks
                    (mil. A)            (mil. A)
Corn               86                     0               ​;     12.4 bil. bu.       1.72 bil. bu.
Soybeans     77                 +1.3                   3.24 bil. bu.       380 mil. bu.
Wheat            58                  -5.1             &nb​sp;     2.12 bil. bu.       664 mil. bu.
Cotton           8.5                &nb​sp;-1.0                   13 mil. bales     5l.7 mil. bales
Rice              2.9                  -0.1                   206.5 mil. cwt.   25.7 mil. cwt.

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