Just days before USDA is set to release their projections, the Kluis Commodity Advisors/Successful Farming 2023 Planting Intentions Survey finds American farmers are upping wheat and corn acres in 2023 and planting fewer soybean acres.
According to the survey, farmers anticipate planting 90.5 million corn acres this year.
This would be a 2.1% increase in corn acres over 2022.
Last month at the USDA Agricultural Outlook Forum, the agency pegged 2023 corn acres at 91 million.
USDA’s February projections were based on analysis of historical data. This Friday, March 31, USDA is releasing the official Prospective Planting report, which contains data based on survey responses.
The Kluis/SF survey pegged soybean acres at 86.5 million.
This represents a 1.2% decrease in acres from 2022.
The USDA February report predicted no change from 2022 for soybean acres at 87.5 million.
For wheat, the survey found American farmers anticipate planting 49.5 million acres.
This is an 8.3% jump in acres from 2022.
The Kluis/SF survey was in line with the USDA February projection.
Thoughts from Kluis:
Al Kluis, managing director of Kluis Commodities, says last fall the dryer weather led to an earlier harvest and created the opportunity for farmers to plant more winter wheat. He says this and last fall’s higher wheat prices are contributing to the jump in wheat acres for 2023.
“The numbers are supportive to corn and soybeans and a negative to wheat,” says Kluis.
“Combined, corn, soybeans, and wheat acres are at 226.5 million acres, which is up eight million acres from 2022. Where did the eight million acres come from? Well, most farmers do not anticipate any prevent plant but ultimately there are some prevent plant acres.
“Also we expect a record amount of double crop acres planted to soybeans after the winter wheat harvest. We have a big increase in hard red winter wheat acres that were planted last fall that could get ripped out and planted into corn or soybeans.”