Battle for Crop Acreage Gains Intensity
Last year’s crop was the third largest ever recorded, however, University of Illinois Ag Economist Darrel Good says it isn’t large enough to meet demand. The Corn Balance Sheet shows supplies will be so low by the time we harvest the 2011 crop that it will feel like our nation has run out of corn.
There are 10 million more acres available over last year’s total number used, and Good says their allocation will be vital. A four-way battle for acreage wages between corn, wheat, soybeans and cotton. Hay prices also are strong by historical standards and may restrain farmer temptations to plant some hay land to row crops.
The battle for U.S. crop acreage this spring is likely to be more intense than anticipated just two or three months ago, says Dr. Robert Wisner, Professor Emeritus, Iowa State University. As a result, there is plenty of room for the markets to move – and to move quickly.