AFBF Econ Team Delivers December 2016 Crop Market Update
The latest crop market report from AFBF economist John Newton (“The Acres They Are A-Changin’”) reviews the Agriculture Department’s long-term agricultural projections and what the numbers mean for commodity prices and farm revenue.
One of the most anticipated items from the early release are USDA’s projections for planted area in 2017. During 2016, the total planted area for the eight principal crops and conservation reserve program was 277.9 million acres. For 2017, USDA projects planted area to decline for all crops except cotton and soybeans, with a total acreage loss of 5.5 million acres to 272.4 million acres.
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