CHICAGO (Reuters) — U.S. farmers are preparing to plant a record 83.6 million acres to soybeans and 90.9 million to corn, the smallest area since 2010, according to a farmer survey released on Wednesday by Doane Advisory Services.
Doane’s soybean acreage forecast is up 9.3 percent from the 76.5 million acres seeded last spring and the U.S. Department of Agriculture’s initial soy planting forecast of 79.5 million released last month. The all-time high for soybean seedings was 77.451 million in 2009.
Doane’s corn seedings estimate is below the 95.4 million corn acres U.S. farmers planted in 2013 and USDA’s current 2014 outlook of 92.0 million.
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Doane’s survey, based on more than 1,100 responses from growers in 44 states, comes ahead of USDA’s planting intentions report to be issued on March 31. Other private analysts are also expecting U.S. farmers to increase their soybean plantings at the expense of fewer corn acres, given the strength in soybean prices this winter.
St. Louis-based Doane also projected all U.S. wheat plantings at 57.3 million acres, with 13.5 million seeded to other spring and 2.0 million to durum. USDA is forecasting all-wheat sowings at 55.5 million.
Cotton seedings were forecast to rise 11 percent from a year ago to 11.5 million acres, matching USDA’s current outlook.
