Corn acreage could drop

Farm Futures expects corn acreage planted in 2023 to drop a percent from last year to 87.7 million acres.

If this number is realized, the projected 87.7 million acres would be the smallest planted U.S. corn crop since the 86.4 million acres in 2009. The Farm Futures soybean estimate of 89.6 million acres is a 2.5 percent increase from last year and this would be the second largest soybean crop on record.

Total wheat estimates from Farm Futures are similar to the acreage from a year ago but do include 3.4 percent more winter wheat acres.

According to survey results, farmers in the Plains are more likely to change corn acres in 2023.