USDA forecasts record high 2017 soybean acres

04.04.2017

Department of Agriculture in its March 31 Prospective Plantings report forecast soybean planted area in 2017 at a record high of 89.5 million acres, up 7% from last year and above average pre-report trade expectations of 88.1 million acres. Compared with last year, planted acreage intentions were up or unchanged in 27 of the 31 estimating states, the USDA said.

The USDA also forecast 2017 corn planted area at 90 million acres, down 4% from last year and below average trade expectations of 91 million acres. Compared with last year, corn planted acreage was expected to be down or unchanged in 38 of the 48 estimating states, the USDA said.

All wheat planted area for 2017 was estimated at 46.1 million acres, down 8% from 2016 and the lowest total wheat planted area for the United States since records began in 1919.

Winter wheat planted area for harvest in 2017, at 32.7 million acres, was down 9% from last year but up 1% from the previous USDA estimate. Of this total, the USDA said, about 23.8 million acres were hard red winter, 5.53 million acres were soft red winter and 3.38 million acres were white winter wheat.

Area planted to other spring wheat for 2017 was estimated at 11.3 million acres, down 3% from 2016. Of this total, about 10.6 million acres were hard red spring wheat.

The intended durum wheat planted area for 2017 was estimated at 2 million acres, down 17% from the previous year, the USDA said.


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