July 2, 2012

USDA says corn acreage up 5%

US farmers planted 96.4 million acres of corn this spring, up 5% from last year, according to the USDA.

It's the largest number of planted acres since 97 million in 1937. The revised estimate, based on early June farm surveys, is up from May's estimate of nearly 92 million acres.

The USDA says farmers expect to make more profit from corn than other commodities.

Iowa corn acres dropped to 14 million from 14.1 million. Illinois rose to 13 million from 12.6 million. Nebraska rose to 9.9 million from 9.85 million.

Record corn acreage is expected in Idaho, Minnesota, Nevada, North Dakota, Oregon and South Dakota.

The USDA estimates 76.1 million acres are planted in soy, up 1% from 2011 and the third highest on record.