U.S. Corn, Soy Planting Seen Topping USDA Forecast at Allendale

U.S. farmers will plant more corn and soybean acres than the government forecast last month, according to a survey of growers by Allendale Inc. Wheat planting will rise for a third consecutive year, it said.

Farmers indicated they will sow 96.956 million acres with corn, Allendale said today in an e-mailed release. That’s down from last year’s 97.155 million acres and above the 96.5 million that the U.S. Department of Agriculture forecast on Feb. 22.

Soybean plantings will rise to 78.324 million acres from 77.198 million last year, according to Allendale’s 24th annual survey of farmers, which was conducted this year from Feb. 25 to March 8. The USDA said last month that 77.5 million acres would be sown this year.

The combined area planted with all wheat varieties will rise to 56.261 million acres from 55.736 million in 2012, according to the survey by Allendale, a farm-market adviser and brokerage based in McHenry, Illinois. Last month, the USDA said farmers would sow 56 million acres.

The USDA on March 28 is scheduled to release the results of a national survey of farmers’ planting intentions, taken this month.

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