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Mark Steil
Worthington, Minn.

Minnesota 2009 corn crop largest crop on record

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The U.S. Agriculture Department Tuesday estimated the 2009 Minnesota corn crop at more than 1.2 billion bushels and both the state and national harvests are projected at record levels.

Since up to five percent of the crop is still unharvested, the USDA's Travis Thorson says farmers in Minnesota and other states will be re-surveyed.

"The actual states for corn are Illinois, Michigan, Minnesota, North Dakota, South Dakota and Wisconsin," Thorson said. "So they'll be re-contacted and then the data will be published in the March 10 crop report."

Grain Analyst Gordon Kralovetz with Slipka Trading in Minneapolis said corn prices fell the daily maximum, 30 cents a bushel, on the news of larger than expected stockpiles.

"They somehow raised harvested acres, despite the fact that we still have maybe five percent of our crop sitting out in the field," Kralovetz said. "So that was kind of hard to justify."

Some of that standing corn could be lost to harsh winter weather. Large stockpiles also forced soybean and wheat prices sharply lower. The USDA says it may adjust the corn estimate as it finds out how much of the crop is still in the field.

Even without a final number, the USDA report caused a sharp drop in grain prices. Prices for all three commodities fell sharply in trading on Tuesday.