Survey Sees 2009 US Soybean Acres Up 3.7M Acres
Before the 2008 crop has even been harvested some are already switching their attention to 2009.
A survey by Farm Futures is indicating another major shift towards soybeans, with US acres projected to rise to 78.5 million acres in 2009, up from 74.8 million in 2008.
Winter wheat could lose out with seedings projected to drop to 45 million acres, down from 46.6 million this year.
The survey puts 2009 corn area at 87 million acres, unchanged from 2008.
"Anecdotal reports from farmers indicate they're very concerned about the financial risk of growing corn next year, due to rising production costs," said Farm Futures Senior Editor Bryce Knorr.
The survey showed some regional shifts, with corn plantings projected to increase in Indiana, Illinois and iowa, while farmers outside those states -- "in more high-risk areas" -- were more likely to shift to soybeans.
A survey by Farm Futures is indicating another major shift towards soybeans, with US acres projected to rise to 78.5 million acres in 2009, up from 74.8 million in 2008.
Winter wheat could lose out with seedings projected to drop to 45 million acres, down from 46.6 million this year.
The survey puts 2009 corn area at 87 million acres, unchanged from 2008.
"Anecdotal reports from farmers indicate they're very concerned about the financial risk of growing corn next year, due to rising production costs," said Farm Futures Senior Editor Bryce Knorr.
The survey showed some regional shifts, with corn plantings projected to increase in Indiana, Illinois and iowa, while farmers outside those states -- "in more high-risk areas" -- were more likely to shift to soybeans.