The highly anticipated USDA planted acres report is out and the corn and soybean plantings are both higher. The corn number exceeds the average of trade guesses compiled by Reuters by over a million bushels. Here is the report snapshot:
Corn Planted Acreage Up 7 Percent from 2015
Soybean Acreage Up 1 Percent
All Wheat Acreage Down 7 Percent
All Cotton Acreage Up 17 Percent
Corn planted area for all purposes in 2016 is estimated at 94.1 million acres, up 7 percent from last year. This represents the third highest planted acreage in the United States since 1944. Area harvested for grain, at 86.6 million acres, is up 7 percent from last year and represents the third highest area harvested for grain since 1933.
Soybean planted area for 2016 is estimated at a record high 83.7 million acres, up 1 percent from last year. Area for harvest, at 83.0 million acres, is also up 1 percent from 2015 and will be a record high if realized. Record high planted acreage is estimated in Michigan, Minnesota, New York, North Dakota, Ohio, Pennsylvania, and Wisconsin.
All wheat planted area for 2016 is estimated at 50.8 million acres, down 7 percent from 2015. The 2016 winter wheat planted area, at 36.5 million acres, is down 7 percent from last year but up 1 percent from the previous estimate. Of this total, about 26.5 million acres are Hard Red Winter, 6.58 million acres are Soft Red Winter, and 3.42 million acres are White Winter. Area planted to other spring wheat for 2016 is estimated at 12.1 million acres, down 8 percent from 2015. Of this total, about 11.4 million acres are Hard Red Spring wheat. Durum planted area for 2016 is estimated at 2.15 million acres, up 11 percent from the previous year.
All cotton planted area for 2016 is estimated at 10.0 million acres, 17 percent above last year. Upland area is estimated at 9.82 million acres, up 17 percent from 2015. American Pima area is estimated at 199,000 acres, up 26 percent from 2015.