Harvest is not even in full swing but U.S. producers already have their sights set on next year’s crop, and analysts warn margins could be tight.
A survey done by Farm Futures shows growers are expecting to plant a little more than 93 million acres of corn next year, which is down 1 percent from this season. They blame the decline on smaller revenue projections and high costs.
Soybean acres, however, could see a boost. The survey showed a 2 percent bump in those to about 85.5 million acres.
Winter wheat could jump by as much a 5 percent coming in at 38.7 million acres, and an 8 percent climb in spring wheat, coming out at nearly 53 million acres.
