Record crops and low prices have farmers embracing change in 2015, with acreage shifts continuing to move fields from corn to soybeans, according to the latest Farm Futures magazine survey. "Potential for big surprises in the Jan. 12 USDA reports could put even more ground into play," says Bryce Knorr, Farm Futures senior market analyst.
The magazine's final survey of 2014 shows smaller corn and soybean crops due mostly to lower than previously reported acreage. Farmers harvested 14.197 billion bushels of corn in 2014, a record, but down 210 million bushels from USDA's last estimate. Farmers reported harvesting more than 1 million acres less than the government currently estimates. Average yield should be down a little as well, falling to 173 bushels per acre, 0.4 bushel per acre less than USDA's last projection.