U.S. growers intend to plant a record amount of land with soybeans this spring, and to boost the acres of sorghum, now in high demand for export to China, according to Farm Futures magazine’s survey of 1,297 growers in 41 states during the first half of March. Its estimates of 87.25 million acres of soybeans and 8.4 million acres of sorghum are higher from forecasts by Kansas State University and the think tank FAPRI. All of them expect record soy area and an upturn for sorghum seedings, while corn plantings decline.
The USDA is to release its annual Prospective Plantings report, based on a nationwide survey of 80,000 operators, on March 31.
Soybeans are a popular alternative to corn, analysts say, following back-to-back record corn harvests that have driven down market prices. Soy stocks are ample as well, which has dimmed somewhat the profit luster that soybeans enjoyed during early winter, said Farm Futures. Bryce Knorr, market analyst for Farm Futures, said “farmers in most areas of the country are ready to jump on the soybean band wagon.” Soybeans will displace cotton in the South, he said.
Soybean plantings would be 4 percent larger than last year’s 83.7 million acres, which is the current record. KSU has forecast 85.7 million acres and FAPRI 84.2 million. Despite larger plantings, the 2015 crop is expected to be smaller than the 2014 record as yields return to normal levels.
For corn, the Farm Futures survey indicated plantings of 88.3 million acres, down 2.5 percent from the 90.6 million acres planted in 2014. KSU forecasts 88.1 million acres of corn and FAPRI 87.9 million acres.
Farm Futures’ figure of 8.4 million acres of sorghum is up 18 percent from 2014. KSU forecasts 8.1 million acres and FAPRI 7.6 million. Sorghum plantings totaled 7.1 million acres last year.