NEWS
Allendale Projects Record Soybean Acres
Fri Mar 15, 2013 09:10 AM CDT

CHICAGO (Dow Jones) -- U.S. farmers will plant 96.956 million acres of corn and 78.324 million acres of soybeans in the upcoming crop year, according to projections by Allendale Inc. following its annual farmer survey.

Estimates from the McHenry, Ill., commodities brokerage firm Friday came as market participants closely watch forecasts for what farmers will sow in the face of tight supplies of U.S. corn and soybeans. The firm's soybean forecast would be a record for U.S. soy plantings. Allendale projected U.S. wheat plantings at 56.261 million acres.

The firm said the soybean-planting forecast coupled with a trend-yield estimate of ...

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