Monday, March 19, 2012

RTRS-UPDATE 1-Allendale survey pegs 2012 U.S. corn acres 95.012 mln

March 16 (Reuters) - Allendale Inc. on Friday said a survey of farmers in 26 states conducted between Feb. 27 and March 9 indicated U.S. 2012 corn acreage at 95.012 million, the biggest corn area since 1944 and above last year's corn
plantings of 91.9 million.

The Allendale corn plantings number was below an estimate released by Informa Economics earlier this month of 95.513 million, above the U.S. Department of Agriculture's (USDA)forecast at its outlook forum of 94.0 million and well above
last year's U.S. corn plantings of 91.9 million.

USDA on March 30 will release its annual planting intentions report and its updated quarterly stocks report.

Allendale's forecast soybean area at 74.495 million was below Informa's recent forecast of 75.128 million and below the 75.0 million forecast by USDA at its outlook conference. It was also down from last year's soy seedings of 75.0 million.

The total wheat area pegged by the Allendale survey at 56.609 million is below the USDA's outlook forum forecast of 58.0 million and above last year's U.S. plantings of 54.409 million acres.

Other spring wheat acreage of 12.623 million forecast by Allendale is above last year's U.S. spring wheat area of 12.394 million.

Allendale said the survey data would imply a record large corn production of 14.092 billion, soybean production at 3.233 billion, the third largest crop on record and wheat production was implied at 2.116 billion acres, above last year's wheat
output of 1.999 billion bushels.