Informa Economics reportedly expects record-large soybean planted acreage for 2014 of 83.9 million, which is up 300,000 acres from its previous outlook. This would be a 7 million bu. increase from the current crop-year.
The high bean plantings are expected to come at the expense of corn acres. The firm reportedly lowered its corn planted acreage projection by 1 million acres to 91.7 million. This would be down 4.3 million bu. from 2013.
For wheat, Informa reportedly raised its 2014 plantings peg by 1 million bu. to 57.7 million acres. In 2013, wheat plantings totaled 59.3 million acres.
The firm expects cotton plantings of 11.2 million acres, which is unchanged from its previous guess but up 881,000 acres from 2013.