Washington, DC, USA
May 24, 2013

Source: USDA / ERS

USDA released its initial scenarios on the U.S. crop outlook for 2013/14 in February during the Agricultural Outlook Forum (www.usda.gov/oce/forum/). On March 28, USDA’s National Agricultural Statistics Service (NASS) released its Prospective Plantings report, providing a first glimpse of acreage decisions for more than 20 different commodities based on a nationwide survey of farmers. These initial indications suggest a continuation of recent trends toward expansion of corn and soybean acres at the expense of rice and cotton. A number of world market developments lie behind this shift, including the expansion of U.S. ethanol production, rising demand in China for U.S soybeans, and new competition for U.S. wheat producers from Black Sea wheat exporters. Actual plantings may diverge from producer intentions, but these broader world market developments are expected to continue to shape planting decisions of U.S. farmers.

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Website: http://www.ers.usda.gov/

Published: May 24, 2013