Even though harvest is done and crops are sold, 2016 planting decisions are still moving forward.
Last year there were much more soybeans planted than corn, but both could decrease with low crop prices.
Analyst are already trying to predict how many acres will be planted in an interview for the USDA their Chief Economist Rob Johansson gave an early preview.
He says, “We would expect to see fewer acres being planted into soybeans in 2016. Right now we’re estimating that to be around 82 million acres going into soybeans. That’s about a million lower than it was last year. On the other hand, we would expect producers to plant roughly 90 million acres of corn about 2 million more than we saw planted this year.”
Johansson expects lower acres for sorghum, barley, and wheat; however, even with low cotton prices, cotton might get a million more acres planted next year. In all, acres planted could be down as much as 1.5 million acres.