Outlook: Crop Receipts Down, Planted Acreage Up

While total 2012-13 U.S. crop receipts are forecast to slip by 4%, total planted acreage is expected to be up by 3.6% for the year, according to the USDA.

The outlook for crop receipts for the marketing year ahead indicates that a falloff to $122,402 million vs. $126,977 in 2011-12, which was up 11% compared with 2010-11.

USDA is anticipating that planting of corn acreage will increase to 94 million acres in 2012-13 vs. 91.9…

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