Farm Progress

Mike Pearson lets listeners know a very important report is due out this afternoon How many acres are farmers planning on planting in corn in 2024? What about soybeans? cotton? sorghum? The USDA will issue their spring planting perspective report which will provide the first benchmark of the year.

March 28, 2024

Mike Pearson tells us how the Perspective Planting report is due out this afternoon.

The mail survey helps the USDA collect data for the report. It asks producers what grain they are going to plant? How many acres of each grain? and How much grain or oilseed they have stored on their farm.

The data is mailed back and aggregated then statisticians create the perspective planting report and the quarterly grain stock report.

The perspective plantings report provides the first survey based on planting intentions for 2024. The March ag data supposedly will show the projections for this year.

The biggest theme in the report is supposed to be an overall decline in acreage. Last year's 94 million acres of corn isn't likely to be repeated. Some projections already predict only 91 million acres in corn this year but some think it could be on the upside.

Matt Bennett, Agmarket. net, says economics favor soybeans. However, the weather last fall enabled farmers to get plenty of field work complete so it could keep more acres in corn. He estimates 91.5 million acres in corn.

However, Farm Futures Editor Jaqueline Holland, estimates 92 million acres in corn.

When it comes to soybean acreage, the overall estimate is 83.6 million acres. Bennett estimates 86.1 million acres planted and Holland estimates 85.5 million acres.

A big decline in wheat acreage is expected in 2024. Last year, there was over 50 million acres in wheat. Overall, the estimate is 46.5 million acres in wheat.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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