Survey: Less 2023 Corn, More Soybeans than USDA Projects
A farmer survey by America’s farmers will plant less corn and more soybeans acres than expected by USDA.
Commodity brokerage firm Allendale says farmers will plant 90.41 million acres of corn and 87.76 million acres of soybeans this year. Those projected corn planting acres would be below the USDA’s Outlook Forum forecast of 91 million acres but above the 88.57 million acres planted in 2022. Projected soybean plantings would top the USDA forecast of 87.5 million acres and exceed the 87.45 million acres planted to soy in 2022.
Allendale predicts the all-wheat plantings at 48.7 million acres, below the USDA prediction of 49.5 million but higher than the 2022 planted area of 45.73 million acres. Allendale projected U.S. farmers’ winter wheat seedings to be 36.52 million acres, below the USDA’s January estimate of 36.95 million acres but up from the 33.71 million acres seeded during 2022. The brokerage and analysis firm projects “other spring wheat” acreage for 2023 at 10.6 million acres.