Wednesday, March 30, 2011

Will farmers plant record number of corn acres?

by ann baskerville

The United States Department of Agriculture is releasing the Farm Acreage and Stock report tomorrow, March 31, 2011.  The information in the report will likely affect commodity prices.  For example, if the report shows farmers deciding to plant more acres in corn than soybeans, that could push prices for soybeans higher, depending on other factors such as world markets and soybean crop yields in other countries.

Corn is currently (as of April 10, 2011) trading above 7 dollars a bushel on the Chicago Board of Trade.

One local farmer is indeed increasing corn acreage plans based on current commodity prices:
Seagulls flock to newly-plowed soil.  This field of alfalfa is getting plowed so that the farmer can plant corn on this acreage.