Farmers are expected to plant an estimated 86.5 million acres of soybeans this year, up 3 percent from last year, and dial back their corn acreage by 5 percent and their wheat acreage by 4 percent, according to the USDA’s annual Prospective Plantings report, released Thursday.
Compared with last year, planted acreage expectations for soybeans are up or unchanged in 24 of the 29 estimating states. Increases of 100,000 acres or more are anticipated in Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Dakota, Ohio, and South Dakota. A decrease of 180,000 acres is expected in Kansas. If realized, the planted area in Kentucky and New York will be the largest on record.
The expected overall drop in corn plantings is due to decreases of 300,000 acres or more from last year in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, South Dakota, and Texas. The planted acreage in Iowa will be the lowest since 2006. The planted acreage in Montana will be the highest since 1958.
The 2024 winter wheat planted area, at 34.1 million acres, is down 7 percent from last year despite a blast of snowy weather in January, from the Plains to the Midwest, that helped the crop in drought-stricken areas. Of this total, about 24.3 million acres are hard red winter wheat, 6.26 million acres are soft red winter, and 3.59 million acres are white winter.
Cotton plantings are projected to rise 4 percent from last year, to 10.7 million acres.