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Doane Survey Estimates Corn at 89.8 Million Acres

A planting survey released by Doane Advisory Services agrees with USDA and Farm Futures prediction that farmers will move a significant amount of acres from soybeans to corn, but predicts a bigger acreage shift.

While USDA predicted farmers would plant 86 million acres of corn in 2007-08 - up from 78.3 million in 2006 - and a survey conducted by Farm Futures in January produced a figure of 88.4 million acres, Doane's survey anticipates 89.8 million acres of corn planted this spring.

According to Doane's survey, the move to corn will result in a steep decline in soybean acres, from 75.7 million in 2006 to 66.1 million this year - a 12.5% drop. The Farm Futures survey projects 69.5 million acres dedicated to soybeans, while USDA predicted 71 million acres.