Doan projects 89 million acres of corn in 2009, strong prices based on 12.3 billion bushel demand

New projections from Doan Advisory Services include 89 million acres of corn planted, up from 86 million in 2008, and projected strong prices for corn based on a demand of 12.3 billion tons including enough to produce 13 billion gallons of corn ethanol by 2010. The projections point out that 60 percent of corn production costs are in diesel fuel and fertilizer, and with oil prices low the opportunities for larger corn acreage will be enticing to farmers.

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