CHICAGO, Jan 26 (Reuters) – U.S. farmers will plant fewer corn acres and more soybeans in 2015, with crop production seen down for both from last year’s record highs, according to the latest U.S. Congressional Budget Office projections on Monday.
CBO forecast a corn crop of 13.496 billion bushels, down from the record high of 14.2 billion harvested last autumn, and a soybean crop of 3.829 billion bushels, below the 3.97 billion in 2014, also the largest on record.
CBO said the projections were based on plantings of 89.0 million corn acres, versus 90.6 million sown in 2014, and soybean seedings of 86.0 million, up from 83.7 million planted last spring.
The wheat plantings forecast of 55.5 million acres in 2015 falls below the 56.8 million seeded in 2014.
