A resurvey of farmers and their unharvested corn and soybeans resulted in USDA lowering its crop estimates for 2009. Corn was down 20 million bushels but still remains at record levels with a total of 13.1 billion bushels, according to the USDA March crop report. Analysts lowered the marketing year average corn price forecast by 20 cents based on the news. Soybeans also were down 2 million bushels to a little more than 3.3 million bushels; however, prices remained unchanged. Review the report. (USDA Daily Radio News)
The Florida citrus crop was virtually unharmed by freezing weather that hit the state in January, according to the global crop supply and price forecast released yesterday by USDA. Based on the report, the Florida orange crop will be 1.6 percent larger than February estimates. About 131 million boxes are expected to be harvested in July, which is 2 million more than what was originally forecasted.
USDA will issue about $121 million in partial 2009-crop counter-cyclical payments to producers with upland cotton and peanut base acres. The announcement, made today by Agriculture Secretary Tom Vilsack, applies to producers enrolled in USDA’s Direct and Counter-Cyclical Payment program. Final 2008-crop counter-cyclical payments for long grain rice and short and medium grain rice will not be issued because their average market prices exceeded levels that would trigger these payments. 


