2024 Planting Estimates: Analysts say margins could remain tight
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.