January 8, 2014

US farmers plan a major shift to soy in 2014 after pushing corn seedings in recent years, according to the latest Farm Futures survey of growers' planting intentions for spring.

Producers are ready to slash corn seeding to 92.23 million, down 3.7% from the total USDA estimated in November, and 5.3% less than originally planned by growers in 2013 before cold, wet weather prevented many fields from being planted. Still, if achieved, the 92.23 million would be the fourth most put in since World War II.

All the ground cut from corn could wind up in soy. In 2014, farmers indicated they want to put in 82.34 million acres of soy, up 7.6 over 2013 and easily a record. Growers have been trying to get rotations back in line for several years, and changing market conditions could finally allow the transition to occur.

Farm Futures' first survey of growers last summer found the shift out of corn already underway, with initial corn intentions put at 94.11 million, with soy at 78.75 million. Market signals sent a clear message to farmers, says Farm Futures Senior Editor Bryce Knorr, who conducted the research.

Adverse spring weather in 2013 also prevented farmers from seeding some spring wheat and durum fields. That ground should return to those crops, helping increase total wheat acreage to 57.64 million, up 2.6%. Winter wheat acres will be up less than 1%, to 43.3 million, according to the Farm Futures survey.