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UPDATE 1-U.S. corn area to reach 95 mln-96 mln acres -Mosaic
May 15, 2013 / 1:05 PM / 4 years ago

UPDATE 1-U.S. corn area to reach 95 mln-96 mln acres -Mosaic

NEW YORK, May 15 (Reuters) - U.S. fertilizer producer Mosaic Co expects U.S. corn plantings to reach 95 million to 96 million acres in 2013, as farmers make up for time lost due to unfavorable spring weather.

Mosaic Chief Executive Jim Prokopanko said at the BMO Farm to Market Conference in New York that farmers have a strong incentive to plant as much as possible, given attractive returns.

The United States is the world’s biggest corn exporter.

The pace of U.S. corn plantings is the slowest on record after cold, wet spring weather, with only 28 percent seeded as of May 12, the U.S. Department of Agriculture said on Monday.

The USDA estimates farmers will plant 97.282 million acres of corn, the biggest area since the 1930s.

Mosaic is the second-largest North American producer of potash fertilizer and the biggest maker of finished phosphate products. Its estimate of corn plantings is similar to a forecast last week from nitrogen fertilizer maker CF Industries Holdings Inc, which estimated 96 million acres of corn.

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