FarmPolicy

September 24, 2018

Ag Economy, NASS, Farm Bill; and Trade

Agricultural Economy

Tom Polansek and Ian Berry reported in today’s Wall Street Journal that, “Evidence that U.S. farmers planted far more corn than expected this growing season sent corn prices plunging and sparked speculation that upward pressure on food prices may be coming to an end.

“The U.S. Agriculture Department said Thursday surveys conducted during the first two weeks of June found farmers had planted 92.3 million acres of corn, the second most since World War II after 93.5 million acres in 2007.

“As recently as June 9, USDA officials had guessed that excessive rain and widespread flooding this spring limited farmers to 90.7 million acres.   But a separate USDA report also found supplies were bigger than expected in early June, signaling relief for food companies, livestock producers and consumers.”

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