The USDA has lowered its 2014 corn crop estimate to 91.7 million acres, down 4 percent from last year and down 6 percent from 2012, according to the Prospective Plantings report released on March 31. Soybean plantings, however, are expected to be a record high 81.5 million acres in 2014.
USDA said its 91.7 million acre corn estimate represents the lowest planted acreage in the U.S. since 2010, but would still be the fifth largest planted corn acreage in the U.S. since 1944. Citing lower expected returns in 2014 than in recent years, USDA said significant corn acreage reductions are expected in the South Central and Southeast regions. In the Midwest, reductions of 5-6 percent are likely in Nebraska and Ohio and 1-2 percent in Illinois, Indiana, and Missouri, while a 3 percent acreage increase is anticipated in Iowa.
At 81.5 million acres, USDA’s soybean estimate is up a full 6 percent from last year, with planting intentions up or unchanged across all states except Missouri and Oklahoma. If realized, soybeans will surpass the previous record of 77.5 million acres planted in the U.S. set in 2009, USDA said. The largest increase is expected in North Dakota, where farmers intend to plant a record high 5.65 million acres in 2014, an increase of one million acres from 2013. USDA said soybean acreage estimates for Nebraska, New York, Pennsylvania, South Dakota, and Wisconsin will also be the largest on record, if realized.
All wheat planted area for 2014 is estimated at 55.8 million acres, down 1 percent from 2013. USDA said the 2014 winter wheat planted area, at 42.0 million acres, is down 3 percent from last year but up slightly from the previous estimate. USDA reported notable winter wheat acreage increases in Kansas and Tennessee, with record high acreage planted in North Dakota.
All cotton planted area for 2014 is expected to total 11.1 million acres, up 7 percent from last year. USDA said U.S. rice acreage is expected to total 2.88 million acres in 2014, up a full 16 percent from 2013 due to lower prices for competing commodities.
The Prospective Plantings report provides the first official survey-based estimates of U.S. farmers’ 2014 planting intentions. The surveys are conducted by USDA’s National Agricultural Statistics Service, and are completed during the first two weeks of March from a sample of more than 84,000 farm operators across the U.S.