Firm Forecasts High Corn, Low Soy Acreage
A private economics firm is estimating 85.922 million U.S. corn acres and 70.434 million soybean acres in 2007.
Compiled by staff
Published: Dec 15, 2006
Corn acreage in the U.S. in 2007-08 will be 85.922 million acres, 7.361 higher than last year, according to estimates from Informa Economics, a private firm. That estimate nearly matches the prediction reported from a proprietary survey conducted by Farm Futures in September 2006.
Informa's forecast also puts soybean acres at 5.131 million acres lower than 2006, at 70.434 million acres.
Some experts have contended that U.S. corn acres would increase substantially in 2007 in order to accommodate demands from ethanol plants, presumably at the cost of soybean acres. The USDA estimated 40.575 million acres of winter wheat in 2006, a number which Informa expects that figure to be up over 3 million acres to 44.000 million acres in 2007-08.
USDA is scheduled to release its 2007-08 corn and soybean acreage estimates in March and its winter wheat seedings estimate on Jan. 12.
During the Farm Futures Management Summit this week, Senior Editor Bryce Knorr commented that when the magazine first released its 86-million acre number from the survey "people thought we were crazy. Now other groups [like Informa] are predicting similar results. There is a large demand building in the market."
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Tagged: soybean, farm, usda, wheat, farm futures
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