RFA: Silver Lining in USDA Acreage Report

AgWeb.com
6/30/2008
Pro Farmer Editors

This morning's USDA June Acreage Report signaled farmers planted more than 87 million acres of corn this year, exceeding the estimates of many analysts and representing the second largest area planted since 1946 (2007 saw 93.6 million acres planted). Even when assuming a possible slight reduction in average yields due to flooding, this represents enough acres to satisfy all projected demands for corn, says the Renewable Fuels Association (RFA).

Based on RFA analysis, it is likely that American farmers will produce in the range of 11.5 billion bushels of corn, meeting all projected demands and leaving approximately 800 million bushels of corn left over. In addition, USDA also reported that corn stocks were higher than this time last year, totaling more than 4 billion bushels.

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