US farmers raised corn and soybean sowings even further than
officials have revealed, Informa Economics said – and forecast that seedings
for next year's harvest will increase even further.
The influential analysis group pegged corn sowings for the
ongoing harvest at 97.172m acres, up more than 750m acres on the current US
Department of Agriculture estimate, and the highest since 1937.
Soybean plantings were 77.143m acres, Informa said, up
nearly 1.1m acres from the USDA figure.
The revisions are based on analysis of data from growers'
returns to the Farm Service Agency, which handles farm support payments, and
which Agrimoney.com said on Monday suggested corn and soybean area was higher
than had been thought.
Highest in 77 years
And Informa forecast a further increase in sowings next
At 97.537m acres, corn sowings would be the highest since
1936, and above a figure of 96m acres forecast last month by fertilizer group CF Industries which was questioned as generous by many observers.
Soybean area, at 79.872m acres, would be a record.
Wheat plantings would rise too, by some 1.1m acres to 57.1m
acres, although this figure is behind acreage rise expectations from some other
observers, including broker Benson Quinn Commodities and Texas A&M University.
The increases would come in part at the expense of cotton, for which area will drop 2.3m acres to 10m acres.