FAPRI projects record U.S. corn, soybean crops in 2013
WASHINGTON, March 8 (Reuters) - U.S. farmers will reap their largest corn and soybean crops ever in 2013, rebuilding stockpiles nearly exhausted after three years of falling production, an influential Midwestern think tank projected on Friday, foreseeing sharply lower commodity prices when the new crop is harvested this fall. The projections by the Food and Agricultural Policy Research Institute at the University of Missouri echoed the U.S. Agriculture Department's projections on Feb. 22 of a dramatic rebound, assuming a return of normal weather and yields after the worst drought in decades in 2012. FAPRI projected a corn crop of 14.370 billion bushels and a soybean crop of 3.367 billion bushels, topping the records of 13.092 billion bushels of corn and 3.359 bushels of soybeans, both set in 2009. Corn plantings of 96.9 million acres would be the second-largest since 1937, although down from 2012. Soybean plantings would be record large. FAPRI's projections were based on conditions in January.
FAPRI 2013/14 projections for major U.S. crops-A
Crop Plant Harvest Yield Crop End stock Mln ac Mln ac bu/ac Mln bu Mln bu Corn 96.9 88.8 161.8 14,370 1,638Soybeans 78.5 77.4 43.5 3,367 191 Wheat 57.5 49.7 44.9 2,233 727 Up cotton 9.45 7.90 801 13.21 4.08
A-Cotton yield in lbs/ac, crop and end stocks in millions of bales.
USDA 2013/14 projections for major U.S. crops-A
Crop Plant Harvest Yield Crop End stock Mln ac Mln ac bu/ac Mln bu Mln bu Corn 96.5 88.8 163.6 14,530 2,177Soybeans 77.5 76.6 44.5 3,405 250 Wheat 56.0 46.5 45.2 2,100 639 All cotton 10.0 8.4 800 14.0 3.7
A-Cotton yield in lbs/ac, crop and end stocks in millions of bales.
FAPRI's Baseline Briefing Book was on the Internet at www.fapri.missouri.edu
(Reporting By Charles Abbott; Editing by Gerald E. McCormick)