← FarmCPA Home

Intended Corn Plantings Up Over 7 Million Acres in 2 Years

By: | Trackback URL | No Comments

March 30th, 2012

I was reviewing the intended corn acre plantings just issued by the USDA and some of the numbers that jump out at me are:

  • Total intended corn acre plantings of 95.9 million acres for 2012.  This is up almost 4 million acres over 2011 and up over 7 million acres from 2010.  This is the largest amount of corn acres planted since 1937.
  • There are now three states that will plant more than 10 million acres of corn, Iowa at 14.6, Illinois at 12.5 and Nebraska at 10.3 (I am not sure what those states planted in 1937).
  • Iowa had the largest increase at 500 thousand acres.
  • Soybean acres are down to 73.9 million acres from 75 million in 2011 and 77.4 million in 2010.
  • Illinois leads the way with 9 million acres and Iowa slightly behind at 8.8 million.  This is the first time in a few years that Illinois will plant more bean acres than Iowa.

It will be interesting to see how this plays out in the market pricing.  With the smaller bean crop in South America and reduced acres here in the US, beans may rally and many market analysts had pegged the corn acres this high, but most were lower.  It will be interesting this year on pricing of both crops.

Paul Neiffer

Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation.

More Posts - Website

Follow Me:
Twitter

← FarmCPA Home

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Subscribe to this blog by:

Previous Posts

Events

View upcoming speaking engagements and other networking events for Paul Neiffer and CliftonLarsonAllen’s agribusiness team.

See All

  • Twitter Feed

    When "bullish" corn reports lead to flat closes what is Mr. Market telling you. Be careful. 2 weeks ago

    2010 spring corn price was $3.99. Only four years ago. 2 weeks ago

    Two good days to lock in decent prices on corn and beans. Did you take advantage of the opportunity 3 weeks ago

    Very little change on corn intentions in key corn belt state. Almost all reductions in fringe states such as ND down 1 million acre 3 weeks ago

    North Dakota up 1 million Minnesota up 700k and Nebraska up 600k represent almost half of the 5 million increase in bean acres 3 weeks ago

    Just spoke for 45 minutes on new farm bill to a group of 100 Minnesota and Wisconsin Co-op board members. No one fell asleep. 4 weeks ago

    Hard to beat spring time in the Pacific Northwest. 4 weeks ago

    Kansas City can be windy this time of year. Just got done taping with a farm family. Check it out on #agday next Friday 1 month ago

    I think spring has sprung in our area. 1 month ago

    April hogs 116 limit up! Can they hit 120 1 month ago