AFBF Econ Team Delivers March 2017 Crop Market Update

News / FBNews Mar 15th, 2017

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In his latest crop market report—Cropland Area and Production Projected Lower, Prices Higher in 2017—AFBF economist John Newton says USDA experts late last month indicated total cropland area for the eight principal crops was projected at 249.8 million acres, down 1.4 percent from 2016.

If realized this would be the lowest planted area since 2011 when 249 million acres were planted to the eight crops, including corn, soybeans, wheat, barley, sorghum, oats, rice and cotton.

USDA believes that in addition to fewer acres being planted, projected crop yields will also decline from last year—a combo that compelled USDA to reduce its production expectations for many crops in 2017.  

In the report, Newton also addresses the spring price discovery and its implications for crop insurance policies and projections for acreage changes in corn and soybeans for the upcoming year.

Download the full March 2017 Crop Market Update below.

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The Senate Homeland Security and Governmental Affairs Committee earlier this week approved the Farm Bureau-supported Regulatory Accountability Act of 2017 (S. 951).

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American Farm Bureau Federation’s John Newton was quoted in a Wall Street Journal article on trade relations between the U.S. and Canada. While “a fight over a little-known dairy product sits at the center of increasing tensions between the U.S. and Canada over broader trade issues” explained the Journal, U.S. agriculture is alarmed by the Trump administration’s attacks on the North American Free Trade Agreement.

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