U.S. farmers this year may shift more acres to corn from soybeans than estimated in July because of rising prices, Farm Futures said, citing a survey of more than 1,000 growers. Corn acres may rise 1.9 percent to 89.93 million (36.4 million hectares) in 2011 from 88.222 million last year, according to Farm Futures, which publishes an on-line newsletter and a magazine 10 times a year. An earlier survey in July indicated acreage would increase to 89.5 million. Soybeans may be planted on 77.42 million acres, the magazine said today in an e-mailed report. About 77.714 million were planted with the oilseed last year, according to the U.S. Department of Agriculture. After a 31 percent jump in net-farm income last year, “farmers are once again very optimistic,” Bryce Knorr, a senior editor for Farm Futures, said in an e-mailed release. “Prices for major crops are trading at the highest levels since the run to record values in 2008, enjoying big year-end rallies. As a result, farmers appear to be reluctant to make major adjustments to their well-established cropping patterns.” Winter Wheat Farmers said they planted 42.37 million acres of winter wheat for harvest beginning in May, up 14 percent from a year earlier and about 600,000 acres more than in its earlier survey, the magazine said. Combined winter and spring-wheat acreage may total 59.22 million, up from 53.6 million in 2010. Corn futures surged 68 percent in the second half of 2010, soybeans jumped 55 percent and wheat soared 65 percent. Growers were surveyed from Dec. 1 to Dec. 29 by e-mail, said Farm Futures, which is based in Carol Stream, Illinois. The USDA is scheduled to release its first survey-based report on planting intentions on March 31 in Washington. The Farm Futures survey also showed farmers may have harvested less corn and more soybeans than the USDA said in November. Corn production totaled 12.406 billion bushels, down from 12.54 billion estimated by the government. About 3.392 billion bushels of soybeans were collected, more than the 3.375 billion projected by the USDA, the magazine said. To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net. To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.

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