Corn, Soybean AcreageIncreases Expected
The plantings intention report that’s coming out this week is expected to show an increase in both corn and soybean acreage. The jump in corn has been widely predicted, but it was a little surprising to see the average trade estimate for soybeans come out larger than actual planted acreage in 2001.
The average pre-report estimate of 19 firms for corn plantings is 78.134 million acres. That would be a 2.382-million-acre increase from last year. There has been chatter about 80 million acres being planted to corn in 2002, but the top end of the range is 79.3 million.
Based on the average trade estimate for soybeans, an acreage figure of 74.561 has been built into the market. That would be 456,000 more acres than were planted last year. The range for soybeans is wide – from 73 million to almost 76 million acres.
All wheat acreage is expected to be down just slightly from that of a year ago. Spring wheat seedings are pegged at 400,000 acres less than last year, while durum acreage is expected to be up about that same amount.
Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.