A new survey, this one by Farm Futures, indicates that while corn prices may look better than soybean prices, they’re not hot enough to lure farmers away from their crop rotations.
Ahead of Monday’s Prospective Plantings report from USDA, farmers said that on average they plan only a slight increase in corn acres and a higher increase in soybean acres. In states with the most acres dedicated to those golden kernels, planting intentions are a mixed bag, according to the survey results. Farmers prioritize agronomic considerations over market trends, with most unable or unwilling to significantly alter their crop mix. In the survey that closed March 18, half of the farmer respondents in the top 10 corn-producing states reported drops in their average planted corn acres.
For Illinois and Iowa, which together grow about one-third of the corn produced in the U.S., the survey shows the market isn’t buying many acres. In Illinois, the average number of corn acres per respondent is up 6 acres to 590 acres. Iowa farmers dropped their average from 568 acres to 556, nearly level with their 2023 corn acreage.
