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Informa expects increased soybean acreage in 2011

Private analytical firm Informa Economics has increased its outlook for 2011 U.S. soybean acreage, while reducing its corn estimate.

Informa has soybean planting for next year at 77.565 million acres, up more than two million from the November guess and about 250,000 larger than USDA’s 2010 estimate.

Corn is pegged at 90.755 million acres, 2.3 million below the November projection but up more than two million from USDA’s 2010 total.

Also, Informa has this year’s soybean crop at 3.377 billion bushels, 2 million larger than USDA’s most recent estimate, and corn is pegged at 12.539 billion bushels, down slightly from USDA’s last guess.

Informa places 2011 cotton planted area at 13 million acres, which would be up on both the month and the year, and wheat is estimated at 56.1 million acres, steady with last month and up about 2.2 million from USDA’s 2010 projection.

USDA’s winter wheat planting estimates and supply and demand update are out January 12 and the first 2011 corn and soybean acreage estimates are due out in March.