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Farm Futures survey sees big drop in corn acres

A survey of more than 1,100 corn and soybean producers by Farm Futures suggests lower than average yields for both crops this year.

Farm Futures has corn at 12.723 billion bushels, potentially the smallest since 2012, with an average yield of 167.2 bushels per acre and planted area of 83.5 million acres, the lowest since 2006, when the ethanol boom started. Soybeans are seen at 3.816 billion bushels, with an average yield of 48.4 bushels per acre and planted area of 79.6 million acres. The survey has combined corn and soybean acreage down 9% from 2018 because of weather during planting and economics.

Farm Futures does say weather will continue to be a factor the rest of the growing season.

The USDA’s next set of supply, demand, and production numbers is out August 12th. The reports will include at least the preliminary results of the USDA’s 14-state acreage resurvey and prevent plant numbers.

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