USDA OCE sees higher soybean acreage in 2022
The USDA expects U.S. soybean planting to move higher in 2022.
The department sees planted area for soybeans at 87.5 million acres next year, up 300,000 from this year, with corn planted area at 92 million acres, down 1.3 million. Wheat acreage is expected to rise 2.3 million acres to 49 million.
Over the next decade, the USDA sees soybeans topping out at 88 million acres, with corn falling below 90 million by 2030, and wheat planted area gradually falling to 13 million acres.
That’s based on a number of economic assumptions and trend-line projections, including return on investment, export and domestic demand, and input costs.
The full set of baseline projections through 2031 will be released in February.
Link to baseline projections