The FBN® Research team released the 2023 FBN Planting Intentions Report on March 28, three days ahead of the USDA’s Prospective Plantings Report publication on March 31.
How did our crop analyses compare to USDA figures?
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FBN was slightly bearish at 92.5 million acres for corn in 2023, very close to the USDA’s 91.99 million acres. While other key analysts anticipated only low or moderate corn area changes versus last year, FBN broke away with a higher and more accurate prediction on corn acreage.
FBN was bullish on soybeans at 84.5 million acres, which, while correctly predicting no increase in planted area, missed the mark and fell short of USDA’s estimate of 87.51 million acres. Much of the trade expected the agency to boost planted area versus 2022 plantings.
FBN was also closely in line with USDA estimates for other crops, including all wheat and sorghum.
To read the 2023 FBN Planting Intentions Report, click here.
To read the USDA report, click here.
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