The USDA’s Prospective Planting report from March 31 shows that estimated corn acres are down 4% or 4 million acres, where soybeans are up 7% from last year. The American Farm Bureau Federation has done the math, and for the first time, 18 out of 31 states will be planting more soybeans than corn — two more states than last year. Not only that, but those states will be dedicating 16.7 million more acres to soybeans than corn.
Dave Franzman, of KCRG-TV9 in Iowa (a state that is still corn dominated but is switching 600,000 acres to soybeans) boils the change down to risk. In his report, farmer John Airy, Jr., says it is cheaper and less risky to plant beans right now.
