Corn plantings could decline by 3 percent next year without pinching the U.S. supply, swollen by the second record-setting crop in two years, says economist Darrel Good of U-Illinois. “The bigger dilemma is that while a reduction in U.S. corn acreage is likely needed in 2015, an increase in wheat and soybean acreage may not be needed,” he says at farmdoc daily. The wheat “carry-over” at the end of this marketing year is forecast to rise by 11 percent, ending a four-year decline. And the soybean stockpile is likely to triple in size because of the record crop this year.
“It may be that low prices will result in some decline in total crop acres in 2015,” concludes Good. Commodity prices are down markedly from the records set during the 2012 drought and are expected to persist for at least a year into the future. “The first indication of producer acreage decisions will be revealed in the USDA’s Winter Wheat Seedings report,” says Good. The report is expected on Jan 12. Farmers planted 330.5 million acres to the two dozen principal U.S. crops this year, about 2 percent more land than they planted in 2012 or 2013, according to USDA’s Acreage report.