The latest estimate of 2012 corn crop acres is from Informa Economics suggesting we will plant 95.5 million acres of corn this spring. To put that into perspective last years planted acreage was 91.9 and harvested acres (flooding and drought reduction) was 83.9 million.
To do this the following needs to occur. Farmers will need to overcome any obstacles from adverse weather reducing days suitable for field operations, delayed planting shifts some acres into soybeans. Seed supply needs to be available and of quality, (last year yields were lower effecting seed hybrid supplies and some hybrids do not have all the genetic traits needed for today's challenges), shortages could shift acres into soybeans. Markets need to favor corn over other crops, when the markets believe 95.5 million acres or more of corn will be produced the prices forecast for harvest will diminish some acres could be lost ot other crops.
Ok we got all that corn planted now what? Continued favorable weather, although some relief has come for dry areas there is still concerns of moisture shortages in the southern growing area. No frost damage, cold temps. in the spring after corn is 3 inches high or again when corn is not yet mature in the fall reduces quality and yield. Both dryness and frost have caused problems in the past several years.
Today economics favor corn. Many farmers have updated equipment to allow them to plant and harvest more acres in a day than before. Storage capabilities and grain handling have also increased. Risk management insurance also provides security for planting crops by covering both yields and minimum income per acre. GMO crops have increased yields and expanded the area suitable for corn production. All of this could make 2012 the largest harvest of corn ever.
Serving together, Dean
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