March 8, 2013 / 5:51 PM / 4 years ago

FAPRI projects record U.S. corn, soybean crops in 2013

WASHINGTON, March 8 (Reuters) - U.S. farmers will reap their
largest corn and soybean crops ever in 2013, rebuilding
stockpiles nearly exhausted after three years of falling
production, an influential Midwestern think tank projected on
Friday, foreseeing sharply lower commodity prices when the new
crop is harvested this fall.
    The projections by the Food and Agricultural Policy Research
Institute at the University of Missouri echoed the U.S.
Agriculture Department's projections on Feb. 22 of a dramatic
rebound, assuming a return of normal weather and yields after
the worst drought in decades in 2012.
    FAPRI projected a corn crop of 14.370 billion bushels and a
soybean crop of 3.367 billion bushels, topping the records of
13.092 billion bushels of corn and 3.359 bushels of soybeans,
both set in 2009. 
    Corn plantings of 96.9 million acres would be the
second-largest since 1937, although down from 2012. Soybean
plantings would be record large. FAPRI's projections were based
on conditions in January.

      FAPRI 2013/14 projections for major U.S. crops-A
   Crop      Plant   Harvest     Yield     Crop End stock
            Mln ac    Mln ac     bu/ac   Mln bu    Mln bu
   Corn       96.9      88.8     161.8   14,370     1,638       
 
   Soybeans   78.5      77.4      43.5    3,367       191
   Wheat      57.5      49.7      44.9    2,233       727
   Up cotton  9.45      7.90       801    13.21      4.08
   A-Cotton yield in lbs/ac, crop and end stocks in millions of
bales.

       USDA 2013/14 projections for major U.S. crops-A
   Crop      Plant   Harvest     Yield     Crop End stock
            Mln ac    Mln ac     bu/ac   Mln bu    Mln bu
   Corn       96.5      88.8     163.6   14,530     2,177       
 
   Soybeans   77.5      76.6      44.5    3,405       250
   Wheat      56.0      46.5      45.2    2,100       639
   All cotton 10.0       8.4       800     14.0       3.7
   A-Cotton yield in lbs/ac, crop and end stocks in millions of
bales.

    FAPRI's Baseline Briefing Book was on the Internet at
www.fapri.missouri.edu

 (Reporting By Charles Abbott; Editing by Gerald E. McCormick)

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