US maize acreage record in 2007
2007 will be the record year for US maize acreage, projected to reach 88.4 million in total. This will be 10.1 million more than was planted in 2006, according to a US agriculture magazine this week.
The increase in maize acreage would mean fewer US soybean acres. The latter
is estimated at 69.5 million acres, down from 75.5 million in 2006.
No
shortage in 2007
A cut in the government’s 2006 US maize crop number and
a smaller ending stocks estimate for the 2006/07 marketing year has put maize
prices at a 10-year high of $4.20 per bushel. “Tightening old-crop supplies and
strong demand for maize to produce ethanol will require both good weather and a
huge increase in acreage to keep the US from running out of maize in 2007,” said
market analyst Arlan Suderman.
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