Analysts at S&P Global Commodity Insights expect that US agricultural producers will expand the acreage under a number of crops in 2023. Thus, industry experts predict that US agrarians will allocate 35.6 million hectares for soybeans, which is almost 1% higher than last year’s level.
In the reporting period, 36.6 million hectares can be sown with corn – thus, the increase will be 2.2%..
The total area under wheat in 2023 is expected to be 20.2 million hectares (+ 9%), including winter – 15 million hectares (+ 11%).
In addition, in the United States, it is expected to expand sorghum crops and reduce cotton crops to 2.7 million hectares (+ 4%) and 4.4 million hectares (-20%), respectively.