June 22, 2009
US corn acre projection reduced; soy raised
Informa Economics on Friday (June 19) projected that US corn acreage will total 83.111 million in 2009 while soy acreage will total 78.869 million, according to traders.
The private analytical firm's corn acreage projection, if realized, would be down from the US Department of Agriculture's March estimate of 85.0 million acres and last year's acreage of 86.0 million.
The soy acreage would be up from the USDA's March estimate of 76.0 million acres and last year's acreage of 75.7 million.
A Chicago Board of Trade floor trader said the report was bullish for corn and bearish for soy. Last month, Informa projected corn acreage at 83.9 million and soy acreage at 78.3 million.
Informa also projected spring wheat other than durum at 13.404 million acres, which would be up 100,000 acres from the USDA's March estimate but down from last year's total of 14.135 million acres.
Last month Informa had projected spring wheat acreage, other than durum, at 13.5 million.
