USDA publishes planting forecasts
THE United States Department of Agriculture (USDA) has published its forecasts for US grain production.
Spring wheat sowings are expected to be the lowest for 10 years, reflecting farmers moves towards more profitable crops. Corn (maize) plantings of all types will increase by 1% to 32.70 million ha (80.8m acres) – the largest planting since 1985. But expected acreage is down in most corn belt states as farmers plan to switch to soyabeans.
Soyabean stocks are up and plantings of durum wheat are likely to be the biggest since 1982. Cotton sowing will be down for the third successive year.
- Financial Times 01/04/98 page 39