Production, Spending Figures Reported

Two major USDA reports have been released in the past week by the National Agricultural Statistics Service (NASS): today’s Crop Production report and last Thursday’s Farm Production Expenditures document. Will you be surprised?

  • Corn, Soybean Crops Robust Despite Floods

Despite June’s severe flooding in the Midwest, U.S. growers are on pace to produce the second largest corn crop and fourth largest soybean crop in history, according to the Crop Production report released today by USDA’s NASS.

Corn production is forecast at 12.3 billion bushels, down 6 percent from last year’s record, but up 17 percent from 2006. Based on conditions as of Aug. 1, corn yields are expected to average 155 bushels per acre, up 3.9 bushels from last year. If realized, this would be the second highest corn yield on record, behind 2004. Growers are expected to harvest 79.3 million acres of corn for grain, down 8 percent from last year.

Soybean production is forecast at 2.97 billion bushels, up 15 percent from last year but down 7 percent from the 2006 record. Yields are expected to average 40.5 bushels per acre, down 0.7 bushels from 2007, while harvested area is expected to be 17 percent higher than in 2007.

The same is cannot be said for cotton. All cotton production is forecast at 13.8 million bales, down 28 percent from last year. Yield is expected to average 842 pounds per acre, down 37 pounds from last year’s record. Producers expect to harvest 7.85 million acres of all cotton, the lowest harvested area since 1983, and 25 percent less than last year.

The August Crop Production report contains NASS’s first estimates of yield and production for corn, soybeans and other spring-planted row crops. To help ensure that these estimates were based on the best information available, NASS supplemented its standard data collection activities in order to account for the impact of the June flooding in the Midwest. NASS personnel re-interviewed approximately 9,000 farmers in flood-affected areas who had previously reported their planted acreage to the agency in early June. Additionally, NASS increased the number of corn and soybean fields selected for objective field measurements in the flood-affected areas and also increased the sample size for the Agricultural Yield Survey, through which farmers report expected crop yields.

The Crop Production report is published monthly and is available online at www.nass.usda.gov.

  • Growers’ Cost of Business Way Up

USDA’s newest expenditure report confirms what you and your grower-customers already know.

The rising cost of fuel and other products helped drive U.S. farm production expenditures to a record $260 billion in 2007, according to the Farm Production Expenditures 2007 summary released Aug. 7 by USDA’s NASS. Total U.S. farm production expenditures rose 9.3 percent from 2006 and nearly 30 percent from five years ago.

Increasing petroleum costs meant growers not only paid more for fuel, but also for fertilizer products, chemicals, and transportation services. Indirectly, fuel prices and the growth in ethanol production also led to higher crop prices, resulting in increased cost for livestock feed.

The NASS report shows that the average production expenditures per farm increased 10 percent nationwide, from $114,186 in 2006 to $125,648 in 2007. On average, U.S. farm expenditures for fertilizer, lime, and soil jumped 26 percent to $8,070; feed costs rose 22 percent to $18,412; fuel costs increased by 15 percent to $6,137; and agricultural chemicals climbed 12 percent to $4,832.

In total, U.S. producers spent $12.7 billion on fuel, including $7.71 billion for diesel, up 15 percent; $2.74 billion for gasoline, up 16 percent; $1.5 billion for LP gas, up 17 percent; and $750 million for other fuels, up 4.2 percent.

The Farm Production Expenditures summary provides the official estimates for production input costs on U.S. agricultural operations. These estimates are based on the results of the nationwide Agricultural Resource Management Survey conducted annually by NASS. The Farm Production Expenditures summary and all NASS reports are available online at www.nass.usda.gov.

Leave a Reply

Latest News
Ryan Bartlett
Crop InputsCompass Minerals Appoints Vice President, Innovation An…
December 8, 2016
Ryan Bartlett, Ph.D., has joined Compass Minerals as vice president, innovation and product development. Dr. Bartlett will be responsible for Read More
HerbicidesHerbicides 2017: New Cropping Systems Set For Debut
December 7, 2016
Herbicide-resistant weed are inching ever-closer to a potentially frightening saturation point here in the U.S. Heading into 2016, USDA planting Read More
CropLife 100Wilbur-Ellis Acquires Michigan Ag Retailer
December 7, 2016
Wilbur-Ellis’ Agribusiness, a recognized leader in precision agriculture technology and the distribution and marketing of plant protection, seed and nutritional Read More
Fertilizer storage The Andersons
CropLife 1002016 Fertilizer Report: Another Really Rough Year For A…
December 7, 2016
In many ways, the fertilizer category cannot seem to catch a break. During the early part of the 2010s decade, Read More
R4023 Sprayer, John Deere
CropLife 100Ag Retail Equipment Report: The Green Party Continues
December 7, 2016
In the annual race for sales in the ag retail equipment marketplace, the color schemes for participants are a little Read More
Winter wheat
HerbicidesTalinor Herbicide Approved For Wheat And Barley
December 7, 2016
Talinor herbicide from Syngenta has received federal registration from the U.S. EPA, giving wheat and barley growers a new option Read More
Forage Sorghum
UncategorizedMilestone Achievement Continues For Dow AgroSciences, A…
December 7, 2016
New and innovative forage products are on the horizon driven by continued collaboration between Dow AgroSciences, a wholly owned subsidiary Read More
Palmer pigweed seedhead in cotton
HerbicidesNew WSSA Factsheet Explores Weed Seeds And Their Longev…
December 7, 2016
Did you know some weed seeds can lie dormant in the soil for more than a century and then sprout Read More
Crop InputsARA 2016: 5 Developments Worth Monitoring Into 2017
December 6, 2016
You can pretty much set your watch to it (do people even still wear watches? I know I do…but I’m Read More
Tim McCardle, ARA Chairman
CropLife 100BRANDT COO Named ARA Chairman
December 5, 2016
BRANDT EVP and Chief Operating Officer Tim McArdle has been named chairman of the Agricultural Retailers Association (ARA) during a Read More
Crop InputsWilbur-Ellis Receives ResponsibleAg Certification At Mo…
December 5, 2016
Wilbur-Ellis Co., a recognized leader in precision agriculture technology and the distribution of crop protection products, announces the ResponsibleAg certification Read More
Young Corn Closeup
Eric SfiligojThe Read On 2017 For Agricultural Fortunes Is Anybody’s…
December 5, 2016
As I (and others) have written in recent months, the nation has just experienced one of the most offbeat election Read More
Acceleron B-300 seed coating
Crop InputsThe BioAg Alliance Launches New Yield-Boosting Microbia…
December 5, 2016
As part of their commitment to develop and commercialize innovative microbial solutions for farmers through The BioAg Alliance, Monsanto Co. Read More
ManagementCorn and soy planting update; Takeaways from Climate Co…
December 2, 2016
AgriBusiness Global Editor Dave Frabotta Joins Paul Schrimpf for a discussion of global corn and soybean planting trends, and a Read More
Radish cover crop taproot
Crop InputsSoil Health Institute, Datu Research Receive Grant To E…
December 1, 2016
The Soil Health Institute (SHI) and Datu Research have announced a $626,000 grant from the Walton Family Foundation to quantify the Read More
Mike Stern
Precision AgClimate Corp. CEO Talks Retailer Support For Digital Ag
December 1, 2016
CropLife Magazine’s sister publication, AgriBusiness Global, recently sat down with Mike Stern, CEO of The Climate Corp., following the Monsanto subsidiary’s Read More
ManagementAg Industry Comes Together To Address Climate Change
December 1, 2016
Addressing climate change — and more specifically, decreasing greenhouse gas emissions from agriculture — can only be achieved through collective Read More
Young soybean field
HerbicidesLiquid Formulation Valor EZ Herbicide Available For 201…
December 1, 2016
Valent U.S.A. Corp. has released Valor EZ; a liquid formulation of the company’s leading herbicide, Valor. Named Valor EZ Herbicide Read More