IHS Markit cuts corn, soybean, spring wheat and cotton acreage forecasts

corn plants
corn plants
(AgWeb)

Based on a Reuters story, IHS Markit expects U.S. farmers to plant less corn, soybean, spring wheat and cotton acres compared to its December forecasts.

The firm reduced its U.S. corn acreage projection to 91.489 million acres, down 89,000 acres from its Dec. 16 forecast and 1.868 million acres fewer than farmers planted in 2021.

IHS reduced its projected U.S. soybean acres to 87.805 million acres, down 1.010 million acres from its December forecast. That would still be up 610,000 acres from 2021 planted acres.

Spring wheat acres excluding durum are projected to be 12.010 million acres, down 710,000 acres from its December forecast but up 590,000 acres from 2021. The firm cut its outlook for durum acres to 1.750 million, down 100,000 acres from its December projection but still up 115,000 acres from 2021.

The firm reduced its upland cotton acreage forecast by 14,000 acres from last month to 11.702 million acres and lowered the Pima cotton projection by 4,000 acres to 132,000 acres for 2022.

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