During its 2019 Agricultural Outlook Forum officials announced their planting expectations for this year.
USDA predicts U.S. corn plantings for this year will be 92 million acres. That's up 3.3% from a year ago. Soybeans are forecast to fall to 85 million acres. That's down 4.7% from last year. USDA Chief Economist Rob Johansson made the announcement Thursday morning during remarks at the USDA Outlook Forum held near Washington, DC.
Wheat acres are also expected to be down 1.7% to 47 million acres. Cotton plantings are forecast at 14.3 million acres. That's up 1.1% from 2018.
USDA sees all-rice acreage at 2.7 million, down 9.8% versus 2018. Markets are rallying on the news. Stay with AgDay on Facebook and Twitter as we continue to update this story.
USDA: Corn to Be King Again in 2019