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20
Feb
2014
2014 Price and Acreage Projections
Author: Scott Stiles, Instructor-Economics

The USDA kicked off its annual Agricultural Outlook Forum today.  The program this morning included the “Outlook for U.S. Agriculture in 2014”   Below is a summary of projections for U.S. planted acreage and average producer prices for the 2014/15 crop year.

Corn: 92 million acres, down from 95.4 million in 2013.  Season average price: $3.90/bu (2014) vs. $4.50 (2013).

Soybeans: 79.5 million acres, up from 76.5 million in 2013. Season average price: $9.65/bu (2014), down from $12.70 (2013).

Cotton: 11.5 million acres, up from 10.4 million in 2013.  Season average price:    68 cents/lb (2014) vs 76 cents/lb (2013).

Rice:  (price projection is “All Rice”.  Actual long grain prices are likely to be lower than those reflected in this outlook.  The acreage change is the key take-away from these projections which leans bearish for 2014 prices). 2.9 million acres,up from 2.5 mil in 2013.   Season average price: $15.90/cwt (2014) vs $16.00/cwt (2013).

USDA presentation: Outlook for US Ag Glauber_Presentation


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