US to plant more corn

With corn prices soaring to US$4.04 per bushel, the best corn prices in a decade, Georgia’s acreage is expected to jump about 38% from 280,000 acres (113,312 hectares) last year to 450,000 acres (182,109 hectares) this year.

Higher corn prices have already resulted in higher feed costs for poultry and beef producers, and farmers have responded by reducing production, in turn creating higher prices for consumers.

Experts believe farmers will plant fewer peanuts and less cotton to accommodate the larger corn crop and they may produce more soybeans, a source of oil for another alternative fuel— biodiesel. According to economist John McKissick, director of the University of Georgia’s Center for Agribusiness and Economic Development, “We’ve also got to recognize that this opportunity also is a challenge.”

“None of us want our food production to go overseas like we’ve done with oil,” commented Dr. J. Scott Angle, dean of UGA’s College of Agricultural and Environmental Sciences.

 

Corn prices affecting poultry sooner than expected