USDA projected farmers will plant 95.9 million acres of corn this spring - the highest acreage level since 1937. If the acreage number holds it would be 4% higher than 2011.
Soybean acres would be 1.6 million acres below the average market projection of 75.5 million acres and down 1% from last year.
PROSPECTIVE PLANTINGS
ACREAGE (million acres)
Actual
USDA Outlook
3/30/12
Average
High
Low
2011-2012
2012-2013
Corn
95.90
94.70
95.70
93.70
91.92
94.00
Soybeans
73.90
75.50
76.70
74.50
74.98
75.00
All Wheat
55.91
57.60
58.30
56.60
54.41
58.00
Winter
41.71
42.00
42.60
41.50
40.65
Spring
11.98
13.40
14.50
12.10
12.39
Durum
2.22
2.30
2.50
1.50
1.37
QUARTERLY STOCKS (billion bushels)
3/1/12
Average
High
Low
12/1/11
3/1/11
Corn
6.01
6.151
6.300
5.925
9.642
6.523
Soybeans
1.37
1.381
1.467
1.325
2.366
1.249
Wheat
1.20
1.235
1.322
1.181
1.656
1.425
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