A commodity broker says there could be a sizeable shift in corn acres next year if commodity prices remain supportive.
Jeff Peterson with Heartland Farm Partners tells Brownfield he expects corn acres to top 94 million acres – a increase of nearly 4 percent. “We believe that the farmers are more confident that they can go ahead a raise a bigger, more consistent yield on corn than on soybeans. We also think where prices are at, although input prices are high, I think the return for them is a little better on the corn side.”
He says the price spread between corn and soybeans could be the biggest variable.
Commodity broker predicts a 4 percent jump in US corn acres for ’23