American farmers might plant less corn this year than last year, but it will still likely be larger than what USDA previously anticipated. That’s according to data from the March 2024 Farm Futures grower survey.
Total corn and soybean acreage will likely vary minimally from last year. Growers expect to plant 92.4 million acres of corn this year, down 2.3 million acres or 2.4 percent from last year. Soybean acreage is forecast to be 2.4 million acres or 2.9 percent higher than last year’s 86 million acres. This is almost a one-for-one tradeoff between corn and soybean acres from last year.
If realized, that would bring the total corn and soybean acreage planted this year to 178.6 million acres or the third-largest combined corn-soybean acreage on record. Last year, farmers planted 178.2 million acres of corn and soybeans. Growers still anticipate USDA finding more winter wheat acres compared to last year.
(From the National Association of Farm Broadcasters)