March 5, 2007

US 2007/08 corn planted area seen at 87 million acres

US 2007/08 corn planted area is estimated at 87.0 million acres and production is seen at 12.195 billion bushels, according to the US Department of Agriculture, which released its grains and oilseeds outlook Friday (Mar 2) at its annual Agricultural Outlook Forum.

The USDA said corn yields this year are seen at 152.8 bushels per acre.

Regarding demand, the government said ethanol production would grow to 3.2 billion bushels while exports are seen at 1.925 billion bushels.

Ending stocks for 2007/08 are seen at 637 million bushels.

In its February baseline report, USDA estimated 2007/08 planted area at 86 million acres and harvested acreage at 78.8 million. Production for the coming marketing year was estimated at 12.065 billion bushels, with yields seen at 153.1 bushels per acre.

Corn use for ethanol production in 2007/08 was estimated at 3.2 billion bushels and exports were seen at 1.925 billion bushels, according to the baseline report. Corn for livestock usage was estimated at 5.825 billion bushels, and ending stocks were 660 million bushels, according to the baseline projections.

In 2006/07, corn planted acreage was 78.6 million acres, with harvested area at 71.0 million. Production in that marketing year was 10.745 billion bushels with a yield of 151.2 bushels an acre. Corn exports were 2.2 billion bushels, while livestock feed usage was 6.050 billion bushels in 2006/07. Ending stocks for that marketing year were 935 million bushels.

Meanwhile, wheat planted area in 2007/08 is estimated at 60.0 million acres and production is seen at 2.17 billion bushels.