Informa sees U.S. seeding more soy, less corn, wheat in 2017

Date:10-24-2016

Private analytics firm Informa Economics projected a 5.7 percent increase in U.S. soybean plantings for 2017, a 3.7 percent decline in corn plantings, and the smallest wheat acreage since 1970, trade sources said last Thursday.

Informa forecast 2017 soybean plantings at 88.487 million acres, an all-time high if realized. The firm projected U.S. corn plantings at 90.971 million acres.

U.S. farmers planted 94.5 million acres of corn and a record 83.7 million acres of soybeans in 2016, according to the U.S. Department of Agriculture.

Informa projected the 2017 corn harvest at 14.242 billion bushels, based on an average yield of 170.4 bu. per acre. For soybeans, the firm projected 2017 production at 4.150 billion bu., based on a yield of 47.2 bu. per acre.

Informa estimated U.S. wheat plantings for 2017 will be the smallest since 1970 with winter wheat at 35.421 million acres and total U.S. 2017 wheat seedings at 48.925 million acres.
Informa officials had no comment on the numbers.