Competition For 2013 Acres Underway
VANCOUVER - Oct 28/12 - SNS -- Competition for acreage could be more intense in 2013 than was the case in the months heading up to seeding the 2012 crop, with an increasing risk total land in pulses could decline.
To the extent farmers in Canada and the United States will respond to market conditions in the same way, land in oilseeds and grains stands a good chance of increasing in both countries.
Looking at the situation in the United States, Informa Economics Inc. recently predicted total land in corn, wheat and soybeans could increase 2% in 2013.
Corn area might inch up from 96.9 to 97.5 million acres, while soybean could rise 3.6% to hit 80 million acres, and wheat 2% to 56.8 million acres. A return to average yields would result in record corn and soybean production, which should result in lower average prices for those commodities in 2013-14.
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