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USDA expects corn acres to surpass soybeans in 2019

The USDA expects corn acres to surpass soybeans in 2019.

In its first statistical guesses for next year, the agency forecasts U.S. corn plantings of 92 million acres and soybeans at 82.5 million.

That’s a nearly 3 million-acre increase for corn compared to this year, and a decrease in soybeans of more than 6.5 million.

Stewart-Peterson analyst Naomi Blohm tells Brownfield the market has been anticipating a reduction in soybeans because of the China trade war.

“But to actually have a concrete number, this is the first time that has happened.  So is the market paying attention to this?  It’s aware of it.  But it’s not in essence fresh news, so (the market) is not responding to it.”

She suggests any projections for 2019 should be written in pencil at this point.

“I would say based on conversations with producers, they don’t totally know yet.  They haven’t bought their seed yet.  They’re not sure if they just want to continue to switch to their regular rotation on things, or what they’re going to do.”

The USDA is also forecasting a more than 3 million acre increase in wheat for next year.