The United States will expand corn planting area in 2002
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Last Update: 2001-10-19
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Source: Internet
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Author: User
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Introduction: the USDA forecasts a record corn consumption this year and a drop in ending inventory, leading many analysts to believe that corn acreage will increase next spring "We're going to see an increase of 2 million to 3 million acres of corn in 2002," said James Roone, an analyst at Rooney & Co The U.S Department of agriculture now forecasts that the inventory at the beginning of 2001 / 02 crop year is 1899 million bushels, and the consumption is 9880 million bushels Therefore, the inventory at the end of 2001 / 02 crop year is 1458 million bushels The actual consumption of corn next year will be 450 million bushels higher than the output If this continues to happen next year, the ending inventory will be less than 1 billion bushels To some extent, the market has responded The contract price of corn in December 2002 was 243 cents, compared with 206 cents in December 2001 This will be the start of encouraging more corn.
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