USDA Reports Welcomed by NCGA

“This extra acreage has helped protect our corn supply at a time when flooding has threatened the industry,” said Ron Litterer, NCGA president and a grower from Greene, Iowa. “We’re happy that growers have exceeded the March expectations and we know that they will work hard to provide a good harvest in the fall, to help meet all food, feed and fuel needs.”

At 87.3 million acres, planted corn acreage is the second highest since 1946, behind last year’s total of 93.6 million acres. Although this represents a seven percent reduction in corn acreage from 2007’s high, this is still the second largest corn acreage since 1946.

Litterer noted that the USDA made a special effort to re-interview farmers in the flood impacted areas to analyze planting intentions. Based on these surveys, acreage harvested for grain is predicted to decline to 90.4 percent down from the recent trend 92.4 percent. The reduced acres harvested, combined with a higher acreage planted, results in projected acres harvested of 78.9 million. This number is slightly higher than USDA’s previous harvested acreage projections of 78.8 million.

Although USDA’s first estimate of production and yield based on actual crop estimates will be released Aug. 12, taking into account the earlier estimated yield of 148.9 bushels per acre, total 2008 corn supply (production and carry-in) would be 13.2 billion bushels, meeting all currently estimated uses and providing a carry-out that is more than 5 percent of supply.

Further, USDA reported that corn stocks in all positions on June 1, 2008 totaled 4.03 billion bushels, up 14 percent from June 1, 2007. Of the total stocks, 1.97 billion bushels are stored on farms, up 8 percent from a year earlier. Off-farm stocks, at 2.06 billion bushels, are up 21 percent from a year ago.

“Our thoughts and prayers continue to go out to growers and others who are severely impacted by this year’s floods,” Litterer said. “We’re proud of the way farming communities and organizations have rallied to help.”

Further Reading

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You can view the full USDA Acreage Report by clicking here.

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You can view the full USDA Grain Stocks Report by clicking here.

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