How many acres of United States cropland will be planted to corn this year? It is a simple question with a complicated answer. As every economist I have ever known would say: ?That depends.?
A major factor is the estimated profitability of soybeans. Last year, when tariffs went on from Chinese retaliation to our tariffs placed on their exports, most farmers indicated they would plant more corn. Now, the reality of soybean versus corn prices begins to weigh in on the decision.
The final computation is the price of corn in the fall of 2019 based on estimated supply. That is a factor of yield and acres.
An economist from the University of Illinois gives his numbers on corn acreage.
AUDIO: Profit Matters 2-21-19
2019 corn acres versus soybean acres
