Department of Agriculture survey of planting intentions hints at record acreage for soybeans as agricultural community worries over low crop prices

Is “king corn” finally dead? For decades, corn has been the US’s most profitable crop, but after three straight years of low prices its dominance is being challenged and, this week, could officially end.

On 31 March, the US Department of Agriculture (USDA) will release its highly anticipated prospective plantings report, the government’s survey of US farmer spring-planting plans. It’s the first major forecast for the 2017 growing season, with the USDA releasing acreage intentions for all major row crops such as corn, soybeans, spring-planted wheat, cotton and other smaller grains. Continue reading…