According to USDA’s Prospective Plantings report, U.S. farmers intend to plant a record-high combined 174.4 million acres of corn and soybeans this year. The report indicates that corn growers intend to plant 97.3 million acres which is the highest planted acreage since 1936 (102 million acres). States with expected record corn acreage includes Arizona, Idaho, Minnesota, Nevada, North Dakota and Oregon. States with expected decreases in acres are Illinois, Missouri and South Dakota.
Producers plan to plant 77.1 million acres of soybeans, down slightly from last year but 3% than 2011. USDA’s acreage estimates are based on surveys conducted during the first two weeks of March and reflect a sample of more than 83,500 farm operators across the nation.