Soybean acreage to reach 91.5 million acres: Farm Futures

A survey of almost 1,400 farmers has estimated that the planted area of soybeans will increase to 91.5 million acres for the 2018/2019 marketing year, the first time that soy will outpace corn plantings in 35 years.

The survey, by Farm Futures, suggests that 1.5% more acreage of beans will be planted this year compared with last, a record for the third straight year.

Meanwhile, corn seedings would fall to just over 90 million acres, down 150,000, or 0.2%, on a year ago.

For all wheat the planted acreage is expected to be 46.2 million acres, up 0.5%.

The survey was conducted in the first three weeks of March and comes ahead of the USDA's Prospective Plantings report, which is to be published on March 29.