Informa Economics has once again revised its forecast for sowing area under soybeans in 2015
Experts of Informa Economics, an authoritative analytical agency, published their latest forecast of the sowing area structure under grains and oilseeds in the United States in 2015.
Just like before, the analysts believe that in this coming season American farmers will significantly decrease sowing areas under corn and re-allocate them in favor to soybeans.
Given the market conditions, this looks quite right; it is noted that on the global corn market the surplus of supply leads to price decline on the global grain market. The analysts expect that in 2015 american farmers will plant corn on 35.64 million hectares; this is 125 thousand hectares less than in the previous forecast, and 995 thousand hectares less than was planted in the previous year.
At the same time, the projected sowing area under soybeans has been increased by 186 thousand hectares, adding up to 35.966 million hectares.
Thus, for the first time in thirty-two years, areas reserved for planting soybeans will most likely even out with those under corn.
In the event that the average yield of corn and soybeans in the United States will reach the range projected — nation’s total gross yield of corn in the country is out to reach 340.378, million tons vs. 365.970 million tons harvested in the current year; and, 106.140 million tons of soybeans vs. 107.730 million tons collected in the current year.
United States — one of the world’s largest producers and exporters of corn and soybeans; therefore, country’s increased yields against previous year results lead to significant changes on the world market of grains and oilseeds.