Last week Farm Futures magazine released a farmer survey that predicted the 2007 acres planted to corn would rise to the highest level in 50 years. Late Friday, Informa Economics announced its acreage estimates for the '07 crop.
The firm says 2007 acres planted to corn will rise to 83.1 million, well above the 79.4 million reported by USDA in June for the 2006 crop. While the Informa estimate is not as high as the Farm Futures survey it's another indication that U.S. farmers are aiming to plant more corn.
Soybean acres will slip next year, according to the Informa report. The group predicts soybean acres at 71.8 million, own from 74.9 planted this year.
Wheat acres will also rise in 2007, topping 62.5 million acres, compared to 57.9 million in 2006.
USDA will release its first 2007 acreage estimates in January.