Agricultural News
Allendale Estimates US Producers Report Highest Soybean Acreage Ever, Wheat and Corn Lower
Tue, 14 Mar 2017 09:11:00 CDT
Allendale, Inc. a Chicago area agricultural commodity brokerage and analysis firm estimates that US grain and oilseed producers will increase their soybean acres to the highest level ever, while corn and wheat will be lowered.
The results are based on the firm's 28th annual Producer Acreage Survey, with submissions direct from producers in 33 states by phone and online from February 27, 2017 to March 10, 2017.
Corn planting intentions of 90.018 million acres would be the seventh largest acreage in recent times. It would be 7.3 million off the recent 2012 reading of 97.291. Allendale's production estimate would imply a production decrease of 1.3 billion off last year's record. Lower acres and lower yields are the word for 2017.
Soybean planting intentions are seen at 88.825 million acres, the largest ever. Allendale's production estimate would be 166 million under last year's record. Higher acreage, but a return to normal weather and trend yields would suggest lower production.
Wheat acreage is estimated at 45.967 million acres. This would be the smallest acreage since the start of USDA's current wheat planting data-series going back to 1919. Allendale's production estimate is 454 million under last year's level.
Click or tap below on the PLAYBOX to watch a clip about Allendale's estimations.
Source - Allendale, Inc.
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