News

USDA acreage projections below pre-report estimates

The USDA’s survey-based Prospective Plantings report shows lower than expected year to year increases for domestic corn and soybean acreage.

Corn is projected at 91.144 million acres, up less than 1% from 2020, while soybean planted area is pegged at 87.6 million acres, a jump of 5%.

Ahead of the report, the average guess for corn was 93.1 million acres and soybeans were estimated at 90 million.

Spring wheat acreage is seen at 11.74 million acres, also less than expected and 4% below last year’s level.

Just after the release of the report, corn futures moved limit up, soybeans turned sharply higher, and wheat went into positive territory.

The USDA’s weekly crop progress and condition reports resume Monday afternoon.

Year to year comparisons for Brownfield states:

Arkansas: Corn: 700,000 acres, up 80,000 acres from 2020; Soybeans: 3 million acres, 1.8 million higher than a year ago

Illinois: Corn: 10.9 million acres, down 400,000 from 2020; Soybeans: 10.7 million acres, 400,000 higher than a year ago

Indiana: Corn: 5.2 million acres, down 200,000 from 2020; Soybeans: 5.8 million acres, 100,000 higher than a year ago

Iowa: Corn: 13.2 million acres, down 400,000 from 2020; Soybeans: 9.8 million acres, 400,000 higher than a year ago

Michigan: Corn: 2.25 million acres, down 100,000 from 2020; Soybeans: 2.25 million acres, 50,000 higher than a year ago

Minnesota: Corn: 8 million acres, unchanged from 2020; Soybeans: 7.8 million acres, 400,000 higher than a year ago; Spring Wheat: 1.38 million acres, 50,000 less than last year

Missouri: Corn: 3.4 million acres, down 50,000 from 2020; Soybeans: 5.8 million acres, 50,000 lower than a year ago

Nebraska: Corn: 9.9 million acres, down 300,000 from 2020; Soybeans: 5.5 million acres, 300,000 higher than a year ago

Ohio: Corn: 3.4 million acres, down 150,000 from 2020; Soybeans: 5 million acres, 100,000 higher than a year ago

South Dakota: Corn: 5.6 million acres, up 650,000 from 2020; Soybeans: Record 5.7 million acres, 750,000 higher than a year ago; Spring Wheat: 750,000 acres, 20,000 less than last year

Tennessee: Corn: 1 million acres, up 130,000 from 2020; Soybeans: 1.7 million acres, 50,000 higher than a year ago

Wisconsin: Corn: 4.15 million acres, up 150,000 from 2020; Soybeans: Record 2.25 million acres, 250,000 higher than a year ago