Early USDA Projection: 10.3 Million Acres in 2010
February 23, 2010 U.S. cotton acreage could climb to 10.3 million this year, according to a report by Bloomberg , quoting a USDA official. That would be an increase of 12 percent from 2009’s 9.15 million acres.
U.S. corn acreage could also rise this spring as more land is available for both crops because of smaller wheat plantings. USDA’s early projections are for slightly less soybean acres this spring.
The projections are for corn acreage to rise to 89 million from 86.5 million last year, said Joe Glauber, USDA’s chief economist. Soybean acreage will drop about 500,000 acres to 77 million acres this spring from 77.5 million in 2009, Glauber said.
“Grain and oilseed demand remain strong, despite large supplies,” Glauber said. “Price levels for grains and oilseeds remain high relative to historical levels from as recently as five years ago.”
Farmers planted 37.1 million acres of winter wheat late last year, down 14 percent from a year earlier and the smallest acreage since 1913, the USDA said on January 12. Rain prevented wheat planting from August to November, increasing the number of acres available for other crops this spring.
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