U.S. farmers’ crop planting intentions in 2024: Corn to decrease by 5% and soybeans to increase by 3%

Published Apr 3, 2024

Tridge summary

The report outlines a significant shift in the United States' agricultural planting intentions for 2024, with a 5% decrease in corn planting to 90 million acres, particularly in states like Illinois, Indiana, and Iowa. In contrast, soybean planting is set to rise by 3% to 86.5 million acres, with notable increases in Arkansas, Illinois, and Indiana. Wheat planting is expected to fall by 4% to 47.5 million acres, despite a rise in spring and durum wheat, while cotton planting is projected to increase by 4% to 10.7 million acres. The quarterly grain inventory report also reveals an uptick in the total inventory of major crops such as corn, soybeans, wheat, and durum wheat as of March 1, indicating a dynamic shift in crop production and inventory levels across the country.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The report shows that farmers surveyed across the United States plan to plant 90 million acres of corn in 2024, a 5% decrease from last year. It is expected that corn planting intentions will decline or remain unchanged in 38 of the 48 planting states. Among them, Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, South Dakota and Texas will reduce by more than 300,000 acres. In contrast, soybean planting area has increased. Farmers plan to plant 86.5 million acres of soybeans in 2024, an increase of 3% from last year. Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, North Dakota, Ohio and South Dakota are expected to increase soybean planting area by 100,000 acres or more from last year. , with Kentucky and New York setting new all-time highs. In addition to corn and soybeans, the report also predicts that the total wheat planting area in 2024 will be 47.5 million acres, a decrease of 4% from 2023; winter wheat will be 34.1 million acres, a decrease ...

Source: Foodmate