USDA’s recently released Prospective Plantings report showed that producers surveyed across the United States intend to plant 90 million acres of corn in 2024, down five percent from last year.
Planted acreage intentions for corn are down or unchanged in 38 of the 48 estimating states. Acreage decreases of 300,000 acres or more from last year are expected in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, South Dakota, and Texas. If realized, the planted area of corn in Arizona and Oregon will be the largest on record.
Soybean growers intend to plant 86.5 million acres in 2024, up three percent from last year. Acreage increases from last year of 100,000 or more are expected in Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Dakota, Ohio, and South Dakota. Record high acreage is expected in Kentucky and New York.
The Prospective Plantings report provides the first official, survey-based estimates of U.S. farmers’ 2024 planting intentions. NASS’s acreage estimates are based on surveys conducted during the first two weeks of March from a sample of nearly 72,000 farm operators across the nation.
USDA also released the quarterly Grain Stocks report, providing estimates of on-farm and off-farm stocks as of March 1. Key findings in that report include:
- Corn stocks totaled 8.35 billion bushels, up 13 percent from last year. On-farm corn stocks were up 24 percent from a year ago, while off-farm stocks were down one percent.
- Soybeans stored totaled 1.85 billion bushels, up nine percent from March 1, 2023. On-farm soybean stocks were up 24 percent from a year ago, while off-farm stocks were down three percent.
The Prospective Plantings, Grain Stocks, and all other NASS reports can be found here.
