Grains/USA: USDA should project reduction in corn area and increase in soybean area in 2024
Maize (Corn)
United States
Market & Price Trends
Innovation & Technology
Published Mar 28, 2024
Tridge summary
The USDA's upcoming report is anticipated to reveal a shift in agricultural trends for the year, with a notable decrease in corn acreage to 92.032 million acres from the previous year's 94.641 million acres, and an increase in soybean acreage to 86.309 million acres from 83.6 million acres. Meanwhile, wheat acreage is expected to see a slight reduction to 47.655 million acres from 49.575 million acres. Additionally, the quarterly inventory report is projected to indicate rises in the reserves of soybeans, corn, and wheat compared to last year's figures, highlighting changes in farming practices and market dynamics.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
São Paulo, 03/26/2024 - The United States Department of Agriculture (USDA) is expected to project on Thursday (28) that farmers in the country will sow a smaller area with corn this year. According to analysts consulted by the Wall Street Journal, the area should be estimated at 92.032 million acres (37.24 million hectares), compared to 94.641 million acres (38.3 million hectares) in 2023. In February, during the Agricultural Outlook Forum, the USDA estimated corn acreage at 91 million acres (36.83 million hectares). Soybean area is expected to be projected at 86.309 million acres (34.93 million hectares), up from 83.6 million acres (33.83 million hectares) last year. In February, the USDA estimated that soybean acreage would be 87.5 million acres (35.41 million hectares) in 2024/25. The USDA is expected to estimate total wheat acreage in 2023/24 at 47.655 million acres (19.29 million hectares), up from 49.575 million acres (20.06 million hectares) in the previous cycle. Last ...
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