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Corn Plantings Reach 92.9 Million Acres

USDA released its acreage report, and farmers planted 19% more corn than last year.

The USDA acreage report Friday shows 92.9 million acres of corn planted in 2007, 3% more than the March projection, 19% more than last year's plantings, and the most since World War II.

State records were set in Illinois, Indiana, Minnesota and North Dakota, though Iowa continues to lead in total corn acres.

New corn acres mainly come at the expense of soybeans in the Corn Belt and Great Plains and cotton in the South. National soybean area is estimated at 64.1 million acres, 15% lower than last year and down 5% from the March forecast, and cotton plantings total 11.1 million acres, 28% less than last year and the lowest since 1989.

Biotech seed varieties made up 73% of corn acres, up 12% from last year, and soybean and cotton farmers also planted higher percentages of biotech, at 91% and 87% respectively.

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