Prediction: Record Soybean Acres
Mar 13, 2009
A recent
Top Producer survey shows that many of you plan to plant more soybean acres than you have for several years. Fertilizer, it seems, is the limiting factor for corn and wheat acres.
Jerry Gulke told me last month that it’s getting to be a question of what may lose the least amount of money as fertilizer remains high and commodity prices are low relative to last year. Soybeans are the winner with this scenario and it looks like that’s what you’re telling the trade.
Allendale, a commodity research and brokerage firm in McHenry, Ill., released its annual acreage predictions this morning. They’re calling for record soybean acreage this year with nearly a 5% jump in acres from last year.
Corn, they say, will take a slight drop in acreage…about 0.5%, but wheat acres are taking a major hit.
Informa is predicting about a million more soybean acres than Allendale.
| |
ALLENDALE 09
(mil. acres) |
Chg vs. 08
|
| Corn |
85.406 |
- 0.576 |
| Soybeans |
80.439 |
+ 4.721 |
| Total Wheat |
57.977 |
- 5.170 |
| Winter Wheat |
42.147 |
- 4.134 |
| Durum Wheat |
2.597 |
- 0.134 |
| Other Spring Wheat |
13.233 |
- 0.902 |
So, what do you think? Is this too low for corn and too high for soybeans? Or not enough of a swing on either?
