Special Report

Survey: 2016 corn, soybean acres could rise

An early survey of 2016 planting intentions shows more corn and soybeans, but fewer wheat acres.  The survey by Farm Futures magazine indicates farmers will plant one percent more corn – 89.65 million acres — and 2.4 percent more soybeans, a record 86.3 million acres if it is realized.  Farm Futures analyst Bryce Knorr says it shows farmer optimism in spite of current low prices.

“We know all it takes is a drought somewhere around the world to raise prices quickly,” said Knorr, during an interview with Brownfield Ag News at the Farm Progress Show in Decatur, Illinois.

The survey shows 2016 wheat acres to be fewer because of low prices and more attractive alternatives.

One alternative crop on the southern Plains is sorghum, which enjoyed a renaissance in 2015 thanks to a surge in exports to China, according to a news release issued at the Farm Progress Show by Farm Futures. Growers are ready to put in more of that crop, hoping to plant 10.14 million acres, the most since 2001 if achieved.

There may also be a jump in cotton acres, hitting 9.82 million, up 10.4 percent from 2015, when low prices and wet conditions resulted in fewer acres planted.

Regarding current low commodity prices, Knorr says farmers need to be patient with outside markets that are exerting their influence.

But Knorr says farmers should consider saving some money on inputs by taking advantage of softer oil and fertilizer prices.

“We know we’re going to need diesel, we know we’re going to need propane, we know we’re going to need fertilizer,” said Knorr.  “So start looking around for them.”

AUDIO: Bryce Knorr (4 min. MP3)