A survey from Farm Futures shows fertilizer prices are changing planting intentions. The January 2022 Farm Futures survey found that high input costs will drive U.S. growers to plant fewer corn acres in 2022 in favor of other crops with less expensive production costs. Some 93 percent of growers expect high input costs this year to slash profits. The survey results put Farm Futures 2022 projected corn acreage at 90.4 million acres and soybean acres at 92.4 million acres. The last and only time soybean acreage surpassed corn was in 2018, when 296,000 more acres of soybeans than corn were planted. Double crop winter wheat and soybean rotations have likely already consumed many of those corn acres, according to Farm Futures, which projects winter wheat acreage at 35.2 million acres. USDA releases its first look at 2022 acreage estimates Thursday, March 31, 2022. Farm Futures will conduct another grower survey ahead of the Prospective Plantings.
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