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Farm Futures Survey Sees Acreage Increase for 2011 Crops

 Thanks to an improving price outlook, U.S. growers look ready to increase plantings of corn, soybeans and wheat for harvest in 2011, according to Farm Futures first survey of new crop acreage intentions for the coming year.

Survey results were released this morning, on the opening day of the Farm Progress Show.

The survey found that corn acres could increase almost 2% in 2011, to 89.5 million, compared with 87.9 million sown this spring. That would be the second biggest crop put in since the end of World War Two.

Farm Futures see soybean acreage setting another record in 2011, with farmers ready to plant 79.6 million acres. That would be the third record acreage total in a row for soybeans.

Winter wheat acreage plummeted a year ago, with wet conditions and harvest delays slashing winter wheat seedings by 13%. Most of those lost acres should be put back into production, with plantings this fall rising to 41.7 million acres, up more than 10% above year-ago levels. With other spring wheat and durum acreage in the spring forecast to be steady, total wheat seedings for harvest in 2011 could climb back to 58.3 million acres, close to the levels put in two years ago.

"The corn and soybean numbers are on target for what I'd expect in early August, with both crops looking good, pro-viding a feeling of optimism for next year," said Farm Futures Market Analyst Arlan Suderman. "Farmers are particu-larly optimistic about corn for next year, so I think the increases are very reasonable."
 
Suderman noted the survey period in late July and early August coincided with the big rally in the futures marketed triggered by the Russian drought. "Producers were very mesmerized by the run in futures, which provided them incentive to plant as much winter wheat as possible this fall."

Senior Editor Bryce Knorr, who conducted the survey, cautioned that final winter wheat acreage could change. "Dry conditions in the South and Ohio River Valley could keep soft red winter wheat seedings from rebounding completely to 2009 levels," Knorr said. "Hard red winter wheat acreage could be restrained despite good moisture levels on the Plains due to weak basis in the cash market that may have producers thinking twice about their normal patterns of planting behavior."

Farm Futures queried more than 550 farmers in a nationwide email survey July 23 to August 4. Knorr and Suderman will discuss the survey and its implications for prices in their online video conversation, The Buzz, available today on www.FarmFutures.com.

2011 Planting Intentions
Corn                                                   89.5 million
Soybeans                                           79.6 million
All wheat                                           58.3 million
Winter wheat                                     41.7 million        
Hard red winter                                 30.9 million
Soft red winter                                    8.0 million        
White winter                                       2.8 million
Other Spring                                     13.9 million
Durum                                                 2.7 million   

About Farm Futures Magazine 
Published nine times annually, plus an extra bonus edition in December, by Farm Progress Cos., Farm Futures provides business and management information to large-scale, high-income U.S. farm operators. The publication leads its market segment in producer preference.

About Farm Progress Companies
Farm Progress Companies [www.FarmProgress.com] is the largest U.S. media company serving the agricultural market. The company publishes 18 state and regional farm publications nationwide, such as Prairie Farmer, (founded in 1841 and is the nation's oldest, continuously published magazine) in Illinois and American Agriculturist in New York and the Northeast, and Farm Futures, a nationally circulated publication for high-volume producers. Farm Progress operates four farm trade shows, including the Farm Progress Show, (the nation's largest outdoor farm show) and Husker Harvest Days, provides tailored marketing solutions, including database, market research, custom publishing. Its broadcast operations include radio, television and Web programming. Farm Progress is headquartered near Chicago in St. Charles, Ill.