Prospective Plantings Report Indicates Small Drop in Soybean Plantings Today's USDA Prospective Plantings report indicated U.S. farmers intend to plant slightly fewer acres to soybeans this year (77.126 million acres) than last year (77.198 million acres). This was a bit surprising since I and many other analysts expected a substantial increase in plantings. However, the plantings estimate declined because the expected increase in plantings in key Midwestern states was offset by declines in Minnesota and some southern states. Farmers in Minnesota indicated they intend to plant only 96 percent as many acres to soybeans this year as last and intend to plant more corn. Farmers in the South and in the Plains states apparently have decided to...