USDA Report Assesses 2008 Corn and Soybean Acreage

Posted by Brian Gould Mon, 30 Jun 2008 20:05:00 GMT

Despite the recent flooding in the Midwest, U.S. farmers expect to harvest nearly 79 million acres of corn and more than 72 million acres of soybeans in 2008, according to the Acreage report released today by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS). The report shows U.S. farmers planted 87.3 million acres of corn in 2008, down 7 percent from last year’s 93.6 million acres, but still the second largest area since 1946. Of that area, growers expect to harvest 78.9 million acres for grain, down 9 percent from 2007 but still the second largest area since 1944. For soybeans, 2008 planted area is estimated at 74.5 million acres, the third largest on record and up 17 percent from last year. Of the planted area, farmers expect to harvest 72.1 million acres, up 15 percent from last year.