Analysts have called the U.S. Dept. of Agriculture’s (USDA) recently released acreage numbers a surprise with corn projections coming in at 94 million acres instead of the 92 million farmers said they intended to plant back in March.
However, USDA Outlook Board Chair Mark Jekanowski said, perhaps, this should not come as such a shock.
“We had a very favorable spring planting season, good conditions for planting corn,” Jekanowski said. “So corn got in so quickly, you know, there was an incentive to get that corn in. Corn fertilizer prices were down from where they were last year.”
Also, Mark says 94 million acres of corn is not a huge record-breaking number, but brought surprise because it was so different than what farmers planned.
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