Farm Progress America, January 29, 2024

Source: Farm Progress. The original article is posted here.

Farm Progress America, January 29, 2024

The snow might be on the ground now, but planters will be rolling before long.

Mike Pearson takes a look at the planting intentions survey results published by Farm Futures, which is part of Farm Progress.

Farmers are weighing the higher priced seed but lower fertilizer prices when it comes to deciding how many acres will be planted this spring and how many will be corn, soybeans or wheat.

The survey included 825 farmers across the USA.

The results showed many producers are considering less corn acreage-- actually 2 percent less-- which would equal 92.8 million acres.

When it comes to soybeans, farmers are considering more acreage-- about half a million more acres.

The survey which is handled by Farm Futures' Grain Market Analyst Jacqueline Holland says she wasn't surprised by the additional soybean acres.

One reason for this is the soybean crop in Brazil. The soybean harvest there has not yielded what they want due to weather.

Something else that stood out in the planting intentions survey was that some producers are considering an increase in wheat acreage. The survey showed an uptick of 1 1/2 percent in winter wheat acreage due to the snowstorms the country experienced earlier this month.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness .

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