Survey results showed U.S. farmers plan to plant more corn while cutting back on soybeans and wheat acres. For the fifth year in a row, Farmers Business Network (FBN) has published its Planting Intentions Report for major crops including corn, soybeans, and wheat. FBN’s estimates were derived from a survey of almost 1,000 U.S. farmers that represent 2 million acres of total production. These survey results were published less than a week before USDA is set to release its latest projections in the Prospective Plantings report scheduled for Monday, March 31, 2025.
Grain and commodity markets are known to swing dramatically based on this report. With the tremendous uncertainty in the farm economy today, we’re proud to provide insights like these back to our farmer members who are trying to manage risk in a difficult pricing environment, said Cody Bills, director of U.S. market advisory.
Meanwhile, another survey, this one by Farm Futures, indicates that while corn prices may look better than soybean prices, they’re not hot enough to lure farmers away from their crop rotations. Ahead of Monday’s Prospective Plantings report from USDA, farmers said that on average they plan only a slight increase in corn acres and a higher increase in soybean acres. In states with the most acres dedicated to those golden kernels, planting intentions are a mixed bag, according to the survey results. Farmers prioritize agronomic considerations over market trends, with most unable or unwilling to significantly alter their crop mix.
In the Farm Futures survey that closed March 18, half of the farmer respondents in the top 10 corn-producing states reported drops in their average planted corn acres. For Illinois and Iowa, which together grow about one-third of the corn produced in the U.S., the survey shows the market isn’t buying many acres. In Illinois, the average number of corn acres per respondent is up 6 acres to 590 acres. Iowa farmers dropped their average from 568 acres to 556, nearly level with their 2023 corn acreage.