As the year comes to a close, market analysts are closely watching to see how many corn acres will be planted next year.
Economists with USDA say right now, they are expecting an increase in planted corn acres. They are banking on the weather being less harsh come planting time, and say their first projection for 2023 is sitting at 92 million acres. Last season, the U.S. saw just shy of 90 million planted acres.
“Right now, we’d expect an increase in corn planted acreage. We had a little bit more prevented planting acres than normal this past year, so we gained a little bit of acreage in total on a more normal planting assumption for next year. But, you know the current situation is to encourage a bit more corn acreage,” said Seth Meyer.
With these forecasts, nothing is set in stone. Meyer says this is just an early, tentative forecast.
