Producers have indicated they intend to plant a record high 81.5 million acres of soybeans this year, 4.96 million acres more than planted last year for an increase of 6%.
The previous record was 77.5 million acres planted in 2009. This is according to USDA’s “Prospective Plantings” report.
The biggest increase in planting is in North Dakota with an estimated one million acres. Corn growers indicated they plan to plant 91.7 million acres this year which is down 4% from last year.
This would be the lowest planted corn acres since 2010. However, it would be the fifth largest corn acreage in the U.S. since 1944.
The states with the largest drop in intended planted acres are North Dakota, Nebraska, and South Dakota for a total of 1.850 million acres.
All wheat area planted is estimated at 55.8 million acres, down 1 percent from 2013. The “Prospective Plantings” report is the result of surveys of 84,000 producers conducted by USDA the first two weeks of March.
USDA’s actual plantings report will be released the end of June.