Record U.S. Soybean Plantings Expected; Record Corn Production

McHENRY, IL – Record large soybean acreage is expected in the United States this year if grower intentions materialize according to Allendale. In the research/brokerage firm’s annual nationwide producer survey, including producer results from 29 different states, soybean planting intentions are seen at 90.3 million acres, a 7.2 million increase over 2020. Allendale’s 4.6 billion bushel production estimate would also be a record. Corn planting intentions of 92.8 million acres would be 2 million more than last year and the fourth largest of all time. Allendale’s production estimate would imply a billion-bushel increase over 2020 and a new record of 15.2 billion bushels. Wheat acreage is expected to increase as well, some 2 million acres above last year, and estimated at 46.4 million acres. Assuming normal abandonment and trend yields, Allendale’s production estimate of 1.91 billion bushels is an 84 million bushel increase over last year.
(SOURCE: All Ag News)