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Farm Futures sees record soybean acreage

A survey by Farm Futures Magazine is projecting record U.S. soybean acreage and the most corn acres planted since 1936 as producers try to rebuild inventory after drought ravaged last year’s crops.

Based on an email survey of 1,750 growers, U.S. soybean acreage is seen at 79.09 million acres, up 2.5% on the year with as much as a 10% increase in parts of the Western Cornbelt. Corn acreage is estimated at 97.43 million acres, slightly more than 2012 with year to year increases in the Eastern Cornbelt and Southern U.S.

All winter wheat acreage is pegged at 42.15 million acres, up 2% from last year, with soft red at 9.51 million acres, a 17.2% rise, hard red at 29.1 million, a 2.5% decline, and white winter at 3.54 million acres, 5.8% more than in 2012. All spring wheat is estimated at 11.91 million, down 3.1%, with durum at 2.06 million acres, 2.8% below last year. All wheat acreage is projected at 56.12 million acres, a 0.7% year to year increase.

The larger planted area for corn, soybeans, and wheat works out to a year to year jump of 2.5 million acres and Farm Futures notes that if that comes out of grassland and haying areas, it would have a greater than usual impact on hay supplies and prices.

In any event, Farm Futures Senior Editor Bryce Knorr says the numbers are dependent on spring weather and 18% of the farmers surveyed could shift 50% or more of their acres.

USDA’s prospective planting estimates are out Thursday, March 28.

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