NASS Releases Corrected Version on October Crop Report
Acreage estimates were incorrect in original report.
Jason Vance
Published: Oct 28, 2008
The USDA's National Agricultural Statistics Service released a corrected version of the October monthly crop report on Tuesday. According to NASS Deputy Administrator Carol House, it was discovered after the initial report was issued on Oct. 10 that information obtained from a data bank of the Farm Service Agency had some discrepancies.
"We took a look at what the differences were and decided we needed to go and do corrections to our planted acres, which means there will be changes in acres for harvest and production," House says.
Corn planted acres were cut by about a million acres in the report with production cut about the same at 1.4%. Soybeans planted acres were down by 1.1 million acres, a decrease of about 1.4%, and production was down 1.5%.
Gerry Bange, Chairman of the World Agricultural Outlook Board, says slight adjustments were made to corn and soybeans, tightening supply and raising prices.
To see how the futures market reacted to the new numbers NASS released, click HERE.
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