The U.S. Department of Agriculture’s (USDA) reports last week provided an early outlook for planting intentions for the 2015 season, as well as a glimpse of old-crop corn and soybeans.
Farmers intend to plant 89.2 million acres of corn across the United States this year, the USDA said in its prospective plantings report. If realized, that would be down 2 percent from last year.
Iowa farmers expect to plant 13.6 million acres of corn this year, or 1 percent less than last year, the report said.
As expected, soybeans will be replacing corn on some acres. Growers are expected to plant 84.9 million acres of soybeans this year, up 1 percent from 2014.
Iowa farmers expect to plant 10.1 million acres of soybeans, up 2 percent from last year.
A reaction to costs...