March 16, 2012: McHenry, Illinois based analytical research/brokerage firm Allendale Inc was said to estimate the following 2012 acreage based on its 23rd annual producer survey:
Corn planting intentions of 95.012 million acres would be the largest since 1944 when 95.475 million acres were planted. The recent high in acreage was 93.527 million in 2007. Using Allendale Inc.’s estimate of harvested acreage, and our 161.36 bushel/acre trend yield, it would imply record production of 14.092 billion bushels. Last year’s production was 12.358 billion bushels.
Soybean planting intentions are seen at 74.495 million acres. This is well off the record 77.451 million planted in 2009. Using Allendale Inc.’s estimate of harvested acreage, and our 43.96 bushel/acre trend yield, it would imply production of 3.233 billion bushels. This production would be the third highest on record. Last year’s production was 3.056 billion bushels.
Wheat acreage is estimated at 56.609 million acres. Winter wheat acreage was seen 238,000 larger than that implied by USDA’s winter wheat seedings report. Using Allendale Inc.’s harvested acreage, and 43.50 bushel/acre trend yield, it would imply production of 2.116 billion bushels. This is above last year’s 1.999 billion bushel production.
This webinar walks you through these expectations and where they expect to see changes:
The thoughts expressed and the basic data from which they are drawn are believed to be reliable but cannot be guaranteed. Any opinions expressed herein are a subject to change without notice. Hypothetical or simulated performance results have certain inherent limitations. Simulated results do not represent actual trading. Simulated trading programs are subject to the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Commodity trading may not be suitable for recipients of this publication this is not a solicitation of the purchase or sale of any commodities. Those acting on this information are responsible for their own actions. Any republication, or other use of this information and thoughts expressed herein without the written permission of Allendale, Inc., is strictly prohibited. Allendale Inc. c2012
Posted by Haylie Shipp