March 22, 2011

Goldman forecasts 2011 US corn land at 92.1 million

Goldman Sachs Group Inc projects that US farmers will sow 75.6 million soy acres, 92.1 million acres for corn and 57 million acres with wheat for 2011.

The bank's estimates on Monday (Mar 21) in a note to clients come before the USDA's March 31 planting intentions report, the government's first survey-based forecast of seedings this year.

The USDA pegged US corn acreage at 92 million, soy at 78 million and wheat at 57 million.

Goldman forecast acreage for durum and other spring wheat at 16 million, compared with the USDA's 15.8 million.