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Analyst: more corn acres possible in 2023

A market analyst says better weather and market prices could incentivize more corn acres in 2023. 

Tomm Pfitzenmaier is with Summit Commodities tells Brownfield that would align with USDA’s forecast at its recent Ag Outlook Forum.

“It came out at 91 million acres, which is about 2.5 million acres more than last year. That looks right up to this point, I guess we’ll see.”

Pfitzenmaier says most of the additional corn acres could come from cotton.

“The profitability of cotton has gone away to some extent and corn is hanging in there fairly well.”

The USDA has soybean acres in the U.S. projected at more than 87 million acres, the same as 2022. The USDA’s Prospective Plantings report, featuring survey-based planting intentions from U.S. farmers, comes out March 31.