| OU 366 | August 13, 2002 |
USDA
RELEASES BULLISH CROP ESTIMATE
Todd D. Davis, Extension Ag Economist
H.M. Harris, Professor
Today USDA released its first official forecast of the 2002 crop. The report was very bullish with corn production estimated down 7 percent from 2001 and soybean production off 9 percent. This is the lowest production of corn since 1995, the lowest for beans since 1996.
Cotton production is estimated down 9 percent, but this is off a record crop. Wheat is down 14 percent from last year, and 4 percent down from the July forecast.
Potential higher prices are small consolation for producers with little to sell, and the persistent drought has left many South Carolina farmers in that category. Below are estimated statewide yields compared to 2001.
|
|
2001 | 2002 |
| Corn | 108 | 42 |
| Soybeans | 22 | 18 |
| Cotton | 686 | 504 |
| Peanuts | 3000 | 2600 |
| Tobacco | 2450 | 2000 |
| Wheat | 38 | 38 |
When Congress returns from its Labor Day Recess, disaster relief legislation will be debated. However, the Administration has been firm in demanding no additional funding for agriculture on top of the $170 billion Farm Bill just passed. Also, there is little appetite to reopen the entire scope of the legislation with rampant criticism in the press of the bill's cost and failure to effectively limit payments.
The Clemson University Cooperative Extension Service offers its programs to people of all ages, regardless of color, sex, religion, national origin, disability, political beliefs, sexual orientation, marital or family status and is an equal opportunity employer.
Clemson University Cooperating with U.S. Department of Agriculture, South Carolina Counties, Extension Service, Clemson, South Carolina. Issued in Furtherance of Cooperative Extension Work in Agriculture and Home Economics, Acts of May 8 and June 30, 1914.
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