U.S. corn plantings to reach 90.4 million acres in 2023

U.S. farmers will plant 90.414 million acres of corn in 2023, which is lower than the 91 million acres forecast by the U.S. Department of Agriculture at its annual Agricultural Outlook Forum in late February, but higher than the 88.579 million acres of U.S. corn planted in 2022, according to annual survey data released by commodity brokerage and analyst firm Allendale.

Soybean acreage likely higher than USDA forecast

Ellendale survey shows that U.S. farmers plan to plant 87.768 million acres of soybeans this year, higher than the 87.5 million acres forecast by the U.S. Department of Agriculture at the annual Outlook Forum at the end of February, and higher than the 87.45 million acres in 2022.

Wheat seeding area may be lower than USDA expects

All wheat planted in the U.S. this year is 48.706 million acres, lower than the USDA’s latest forecast of 49.5 million acres, but higher than the 45.738 million acres in 2022, according to Ellendale’s survey.

The 2023 U.S. winter wheat acreage is estimated at 36.524 million acres, down from the USDA’s Jan. 12 estimate of 36.95 million acres, but up from 33.271 million acres the previous year, Allendale said. Other spring wheat acreage was 10.607 million acres, and Durum wheat acreage was 1.575 million acres.

Allendale conducted a survey of farmers’ planting intentions in 24 U.S. states between Feb. 27 and March 11. The USDA is conducting a spring planting survey of more than 70,000 farmers this month and will release its 2023 seeding intentions report on the 31st of this month.

Source: BoE Guru

Post time: Mar-28-2023