Corn Acres Still Historically High
Posted: March 31, 2008
USDA’s highly anticipated prospective plantings report is predicting that farmers will plant eight percent less corn and 18 percent more soybeans. Growers intend to plant 86.0 million acres of corn and 74.8 million acres of soybeans in 2008.
Expected acreage is down from last year in most states as favorable prices for other crops, high input costs for corn, and crop rotation considerations are motivating some farmers to plant fewer acres to corn.
Despite the decrease, the report says, “corn acreage is expected to remain at historically high levels as the corn price outlook remains strong due in part to the continued expansion in ethanol production.”
For soybeans, according to the report, acreage increases are expected in every state, except in West Virginia, which is unchanged from last year.
The largest increases are expected in Iowa and Nebraska, up 1.25 million acres and 1.20 million acres from 2007, respectively. Increases of at least 800,000 acres are also expected in Indiana, Minnesota, and South Dakota. If realized, the planted acreage in Kansas, New York, and Pennsylvania will be the largest on record.