Bloomberg by By Michael Hirtzer, Isis Almeida, and Dominic Carey 5/30/2019
Prevented plant claims could surge to about 6 million acres
Corn planting pace is slowest on record amid relentless rain
For months, traders debated which crops U.S. farmers would sow this year. That discussion is now turning to how many acres may be left unplanted as relentless rainfall sweeps the Midwest.
Rabobank is predicting an unprecedented number of unplanted acres of corn, the most widely grown American crop. A Bloomberg survey of 10 traders and analysts indicates growers could file insurance claims for about 6 million corn acres they haven’t been able to sow, almost double the record in 2013.
Analysts predict U.S. 2019 corn acreage loss at 6 million
Corn futures surged more than 20% to a three-year high over the past few weeks on fears farmers wouldn’t be able to get seeds in the ground ahead of crop-insurance deadlines. So-called prevented plant claims reached 3.6 million acres in 2013, according to the U.S. Department of Agriculture’s Farm Service Agency.
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https://www.bloomberg.com/news/articles/2019-05-30/weather-chaos-expected-to-leave-record-u-s-corn-acres-unplanted