Farmers across the U.S. are eager to plant more soybeans in 2021, according to a survey conducted in August by Farm Futures.
Respondents projected planting nearly 4.1 million more acres of soybeans in 2021 compared to 2020, totaling 87.9 million acres. If realized, 2021 soybean acreage will be the third highest planted soy acreage on record.
Respondents indicated planting 0.3% fewer corn acres in 2021-22 after demand destruction eroded 440 million bushels from the 2019-20 demand pipeline.
Farmers are predicted to plant 91.8 million acres of corn next spring. Given favorable planting and growing conditions, 2021 could be a chance for farmers to sow...