NEWS RELEASE

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Immediate Release:
Monday, March 31, 2008

Nebraska Corn Board contacts:
Don Hutchens: 800.632.6761

USDA: Nebraska corn producers to plant nearly 9 million acres

LINCOLN, NE – Nebraska corn producers intend to plant some 8.8 million acres of corn this year, about 6 percent less than last year’s 9.4 million but still 9 percent more than in 2006, according to the U.S. Department of Agriculture’s Prospective Plantings report released this morning. The report is based on a survey conducted in early March.

Nationally, USDA said, corn producers will plant 86.0 million acres, down 8 percent from last year’s 93.6 million, which was the largest corn plantings since 1944.

Don Hutchens, executive director of the Nebraska Corn Board, said higher corn production costs – and higher soybean and other crop prices when the survey was taken – combined to lower planting intentions in USDA’s report.

“Corn and soybean markets have fluctuated considerably this spring, and this will likely continue. Although interesting to watch, it can make it more difficult to predict things like planting intentions because each producer calculates the best marketing opportunity for their operation, and those calculations can change,” he said. “As markets change following this report, what producers intend to plant may change along with them.”

Weather is also a factor, he said, as a dry spring tends to be favorable for planting corn. “Seed availability may also play into final planting decisions,” Hutchens said. “Should there be shortages of favorite or chosen varieties, producers may change their minds.”

As for corn stocks, USDA said the U.S. had 6.9 billion bushels on hand as of March 1, which was an increase from 6.1 billion that was on hand a year ago at this time. In Nebraska, there were 766.8 million bushels on hand, an increase from 641.5 million a year ago.

No matter where the final planting numbers end up, Hutchens said, with the carryover from last year’s record crop, Nebraska corn producers will meet the growing demands for corn.

The Nebraska Corn Board is a self-help program, funded and managed by Nebraska corn farmers. Producers invest in the program at a rate of ¼ of a cent per bushel of corn sold. Nebraska corn checkoff funds are invested in programs of market development, research and education.

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