Farmers across the United States intend to plant an estimated 89.0 million acres of soybeans in 2018, down 1% from last year.
This is according to the Prospective Plantings report from the USDA. Planted acreage intentions for soybeans are down or unchanged in 20 of the 31 estimating states. The largest increase is expected in Indiana with 6.10 million acres, an increase of 150,000 acres from 2017. If realized, the planted area of soybeans in Indiana, Kentucky, North Dakota, Pennsylvania, and Wisconsin will be the largest on record.
Corn growers intend to plant 88.0 million acres in 2018, down 2% from last year. If realised this will be the lowest planted acreage since 2015. Compared with last year, planted acreage is expected to be down or unchanged in 33 of the 48 states estimated.
The Prospective Plantings report provides the first official, survey based estimates of US farmers’ 2018 planting intentions. The acreage estimates are based on surveys conducted during the first two weeks of March from a sample of approximately 82,900 farm operators across the United States.