Midwest farmers in the US intend to plant more corn and wheat

Farmers across the Midwest are planning to plant more corn and wheat in 2023, according to Ag Access. In a survey with almost 400 respondents, farmers said they would dedicate 27% more acres to corn and 32% more to wheat with a smaller percentage increasing their soybean acres (17%). This is in line with what USDA projected at its annual Agricultural Outlook Forum with corn plantings at 91.0 million acres, up from 88.6 million in 2022; wheat plantings at 49.5 million acres, up from 45.7 million in 2022; and soybeans at 87.5 million acres, unchanged from last year. Seth Meyers, USDA chief economist, believes the increase in wheat acres is in response to the continued high global prices and tight supplies, partially due to the war in Ukraine. He also sees acres of corn and soybeans expanding a bit over last year. “The initial expectations for 2023 planted area indicate growth in total planted area of corn, wheat, and soybeans relative to the previous year. Combined acreage for the ...