For charts and commentary on the USDA report, see Bryce Knorr's Morning Call and check back this afternoon for Arlan Suderman's Afternoon Recap.
Driven by growing ethanol demand,
Expected corn acreage is up in nearly all states, due to favorable prices fueled by increased demand from ethanol producers as well as strong export sales.
The increase in intended corn acres is partially offset by a decrease in soybean acres in the
Area intended for rice is estimated at 2.64 million acres, down 7 percent from 2006 and down 22 percent from 2005. If realized, this would be the lowest planted acreage since 1987. Expected acreage of long grain rice, which represents 76 percent of total rice acres, is down 8 percent from last year. Producers of long grain rice were affected by USDA's March 5 ban on the planting of Clearfield CL131 after unapproved genetic material was found in the seed stock.
All wheat planted area is expected to increase 5 percent from 2006, to 60.3 million acres. Winter wheat acreage is up 10 percent and durum wheat is up 6 percent, while other spring wheat is down 7 percent. Other crops with expected acreage increases are sorghum, up 9 percent, and canola, up 12 percent, and barley, up 7 percent from last year's record low.
The Prospective Plantings report provides the first official estimates of
Prospective Plantings and all other NASS reports are available online at www.nass.usda.gov.
Source: National Agricultural Statistics Service