Private analytical firm Informa Economics raised its estimate of US 2012 corn plantings to 96.759 million acres (39.2 million hectares), from its previous forecast of 96.124 million, trade sources said Friday. Informa's latest figure is above the US Department of Agriculture's March 30 corn plantings forecast of 95.9 million acres, which, if confirmed, would represent the most US acres seeded to corn since 1937.
Informa also raised its US 2012 soyabean plantings estimate to 75.959 million acres, from 75.822 million in its last estimate, issued May 4. The firm's latest soyabean estimate is 2 million acres higher than USDA's March forecast of 73.9 million acres. Informa left its estimate for seedings of US spring wheat (other than durum wheat) at 13.476 million acres, unchanged from its May forecast. Informa projected US 2012 all-wheat plantings at 57.6 million acres, also unchanged from its May forecast. USDA projects US all-wheat plantings at 55.9 million acres.
Informa officials had no comment on the figures, but the firm said in a note to clients that its estimates were based on a survey conducted in late May and early June, along with an evaluation of planting developments in the first half of June. The firm noted that planting got off to an unusually early start across the US Corn Belt and progressed quickly, with few interruptions. "The rapid corn planting is believed to be a feature in the corn acreage being up 600-plus thousand acres from Informa's May estimate as planting momentum added corn acreage versus earlier expectations," the note said.
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