Corn Products (CPO)

[NumberOne]

Acreage update!

Lots of corn plated this year. Less than 2007 but more than any other year since 1947 (excluding 2007).

7/1/2009 11:02:00 AM

USGC: U.S. Farmers Overcome Adversity, Surpass Expectations

WASHINGTON, D.C., July 1, 2009 – Farmers faced looming adversity during the spring planting season, causing lowered expectations, but ultimately overcame. USDA projects the second-largest corn planting acreage since 1946, after 2007.

Early stages of planting were similar to last year’s conditions. Though low temperatures and frequent precipitation slowed planting in early May, warmer dryer conditions eventually returned, allowing farmers to make accelerated progress in late May. U.S. corn producers planted an estimated 87 million acres, up 1 percent from 2008. U.S. soybean farmers reached a historic high, increasing planting nearly 2 percent from 2008, with 77.5 million acres planted. Together, U.S. corn and soybean producers worked steadfastly to plant a total 164.5 million acres, an increase of nearly 3 percent.

U.S. Grains Council President and CEO Ken Hobbie said U.S agricultural producers continually show their efficiency and ability to produce enough grains to meet market demands. He said America’s farmers demonstrate a loyal commitment to assuring an adequate supply of affordable quality feed despite hardships faced during difficult spring planting. With rapid response to the marketplace, producers continually provide unwavering dedication and allegiance to U.S. and global consumers.

"I cannot say I am surprised by the recent planning projections issued by USDA.

Time and time again, U.S. farmers are faced with adversity, but their commitment to providing an adequate supply of U.S. feed ingredients as well as their dedication to curbing global hunger perseveres," said Hobbie. "Thanks to U.S. farmers, we are able to reassure our global end-users on the reliability of U.S. agriculture and create dependability in the global marketplace for U.S. agricultural products. This is another factual demonstration of U.S. farmers meeting global demand."

Information from surveys are compiled in USDA’s Acreage Report, released on June 30, 2009. Surveys were conducted the first two weeks of June.

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