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USDA Prospective Plantings Report: Bearish Soybeans

USDA Report        www.USDA.gov

Corn Planted Acreage Down 4 Percent from 2016

Soybean Acreage Up 7 Percent

All Wheat Acreage Down 8 Percent

All Cotton Acreage Up 21 Percent

 

Corn planted area for all purposes in 2017 is estimated at 90.0 million acres, down 4 percent or 4.0 million acres from last year. Compared with last year, planted acreage is expected to be down or unchanged in 38 of the 48 estimating States.

Soybean planted area for 2017 is estimated at a record high 89.5 million acres, up 7 percent from last year. Compared with last year, planted acreage intentions are up or unchanged in 27 of the 31 estimating States.

All wheat planted area for 2017 is estimated at 46.1 million acres, down 8 percent from 2016. This represents the lowest total planted area for the United States since records began in 1919. The 2017 winter wheat planted area, at 32.7 million acres, is down 9 percent from last year but up 1 percent from the previous estimate. Of this total, about 23.8 million acres are Hard Red Winter, 5.53 million acres are Soft Red Winter, and 3.38 million acres are White Winter. Area planted to other spring wheat for 2017 is estimated at 11.3 million acres, down 3 percent from 2016. Of this total, about 10.6 million acres are Hard Red Spring wheat. The intended Durum planted area for 2017 is estimated at 2.00 million acres, down 17 percent from the previous year.

All cotton planted area for 2017 is estimated at 12.2 million acres, 21 percent above last year. Upland area is estimated at 12.0 million acres, up 21 percent from 2016. American Pima area is estimated at 232,000 acres, up 19 percent from 2016.

Source: USDA


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