Wisconsin Soybean acres are projected to increase by 3% percent, according to U.S. Department of Agriculture Prospective Plantings Report.
Wisconsin soybean acres are projected at 1.85 million acres, up from 1.8 million acres in 2014 according to the report. Nationally, a record high 86.4 million acres are expected to be planted, up 1% from last year.
The USDA report said the planting intentions are up or unchanged in 21 of 31 major soybean-producing states. Analysts say farmers are returning to a more traditional 50/50 soybean-corn rotation due to tight margins.
"Production and supply affect prices. We are at the beginning of the planting and growing season and the weather greatly impacts yields," says Mike Cerny, president of Wisconsin Soybean Marketing Board.
Wisconsin's animal agriculture and exports are critical for a strong market for the state's soybean growers. Together, Wisconsin dairy, beef, hogs, lamb, poultry and fish are the key customers for the state's soybeans. Sixty- five percent of Wisconsin soybeans are exported with much of that demand being driven by China. Two out of every three soybean rows are sent to other countries.
"The Wisconsin Soybean Marketing Board supports programs that enhance the state's animal agriculture as well as export opportunities. The Board of Directors continually looks for new markets and programs to invest checkoff dollars," says Bob Karls, executive director Wisconsin Soybean Marketing Board.
Source: Wisconsin Soybean Marketing Board