Informa Economics today released updated corn and soybean acreage projections for 2014, based on its second survey for the 2014-15 marketing year. The firm expects U.S. growers to plant 93.319 million acres of corn in 2014, which would be down 2.046 million acres or 2.1% from the 2013 growing season. In December, Informa projected 2014 corn acreage at 93.3 million acres.
On the other hand, Informa projects soybean acreage in 2014 will rise 4.731 million acres (6.2%) from year-ago to 81.264 million. This is down 36,000 acres from the firm's December forecast.
The firm expects winter wheat plantings for 2014 to decline by 1.198 million acres or 2.8% from the year prior to 41.892 million acres. This is down marginally from the firm's December projection of 41.9 million winter wheat acres. Other spring wheat is expected to total 12.095 million acres (up 502,000 acres from 2013), while durum wheat plantings are expected to total 1.808 million acres, up 338,000 acres from 2013.
Cotton plantings are expected to rise just 674,000 acres from 2013's low levels to 10.880 million acres. This represents a 6.6% increase from year-ago and a 223,000-acre increase from the firm's December projection.
USDA will provide its acreage projections on March 31 in its Prospective Plantings Report.