WASHINGTON, March 28, 2024 – Producers surveyed across the United States intend to plant 90.0 million acres of corn in 2024, down 5% from last year, according to the Prospective Plantings report released today by USDA’s National Agricultural Statistics Service (NASS).
Planted acreage intentions for corn are down or unchanged in 38 of the 48 estimating states. Acreage decreases of 300,000 acres or more from last year are expected in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, South Dakota, and Texas. If realized, the planted area of corn in Arizona and Oregon will be the largest on record.
Soybean growers intend to plant 86.5 million acres in 2024, up 3% from last year. Acreage increases from last year of 100,000 or more are expected in Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Dakota, Ohio, and South Dakota. Record high acreage is expected in Kentucky and New York.
The Prospective Plantings report provides the first official, survey-based estimates of U.S. farmers’ 2024 planting intentions. NASS’s acreage estimates are based on surveys conducted during the first two weeks of March from a sample of nearly 72,000 farm operators across the nation. Other key findings in the report are:
- All wheat planted area for 2024 is estimated at 47.5 million acres, down 4% for comparable states from 2023.
- Winter wheat planted area, at 34.1 million acres, is down 1% from the previous estimate and down 7% from last year for comparable states.
- Area planted to other spring wheat for 2024 is expected to total 11.3 million acres, up 1% from 2023.
- Durum wheat planted is expected to total 2.03 million acres for 2024, up 22% from last year for comparable states.
- All cotton planted area for 2024 is expected to total 10.7 million acres, 4% above last year.
Today, NASS also released the quarterly Grain Stocks report to provide estimates of on-farm and off-farm stocks as of March 1. Key findings in that report include:
- Corn stocks totaled 8.35 billion bushels, up 13% from the same time last year. On-farm corn stocks were up 24% from a year ago, while off-farm stocks were down 1%.
- Soybeans stored totaled 1.85 billion bushels, up 9% from March 1, 2023. On-farm soybean stocks were up 24% from a year ago, while off-farm stocks were down 3%.
- All wheat stored totaled 1.09 billion bushels, up 16% from a year ago. On-farm all wheat stocks were up 20% from last year, while off-farm stocks were up 14%.
- Durum wheat stored totaled 36.6 million bushels, up 2% from March 1, 2023. On-farm Durum stocks were up 10% from a year ago, while off-farm stocks of Durum wheat were down 5%.
The Prospective Plantings, Grain Stocks, and all other NASS reports are available online at www.nass.usda.gov.
NASS will hold its biannual Data Users’ Meeting on April 16, 2024. The event will be at the University of Chicago Gleacher Center in Chicago, IL. A virtual attendance option will also be available. The meeting is free and open to the public. Anyone interested in attending the Data Users’ Meeting can find registration information, agenda items and details from previous meetings on the NASS website.
FAQs
Total U.S. soybean acreage is estimated at 86.5 million acres, a 3% increase from 2023 when farmers planted 83.6 million, according to the March 28, 2024, Prospectuve Planting report from the U.S. Department of Agriculture's National Agricultural Statistics Service.
How much does the US government pay a farmer for each acre of corn grown? ›
The average across corn and soybean acres of $35 per acre is then applied to both corn and soybeans in 2020. Also included for corn in 2020 is an $80 payment in other Federal aid.
What is the acreage and yield of corn in the US? ›
For each year the acreage adjusted yields exceed the actual US corn yield. The yield deviations were largest in 2021 when the acreage adjusted yield of 181.2 bushels per acre was 4.5 bushels larger than the actual US average corn yield of 176.7 bushels per acre.
Are soybeans a very important crop in the United States? ›
The United States is the world's leading soybean producer and the second-leading exporter. Soybeans comprise over 90 percent of U.S. oilseed production, and other oilseeds, including peanuts, sunflowerseed, canola, and flax, make up the remaining production.
What are the USDA planting intentions for 2024? ›
WASHINGTON, March 28, 2024 – Producers surveyed across the United States intend to plant 90.0 million acres of corn in 2024, down 5% from last year, according to the Prospective Plantings report released today by USDA's National Agricultural Statistics Service (NASS).
Why do farmers not harvest corn? ›
Field corn, also sometimes called “cow corn,” stays in the fields until the ears dry because corn is very high in moisture and must be dry to be processed. That is why farmers leave stalks in the field until they are golden brown in the fall.
Why does the US grow so much corn and soybeans? ›
Strong domestic demand for livestock feed and fuel ethanol coupled with growing exports has led to higher prices, providing incentives for farmers to increase corn acreage. In many cases, farmers have increased corn planted area by shifting acres away from less-profitable crops.
Why does the government pay farmers to grow corn? ›
The logic behind the government marketing loans to farmers is to prevent them from dumping their corn on a glutted market at harvest time. The farmers can keep their crops in reserve and sell them when they are needed and will fetch a higher price.
What is the problem with Agriculture in 2024? ›
For 2024, USDA anticipates a decrease in net farm income, moving from $155 billion in 2023 to $116 billion in 2024, a decrease of 25.5%. Much of the forecasted decline in 2024 net farm income is tied to lower crop and livestock cash receipts and continued increases in production costs.
Is the US government paying farmers to not farm? ›
CRP is a land conservation program administered by the Farm Service Agency (FSA). In exchange for a yearly rental payment, farmers enrolled in the program agree to remove environmentally sensitive land from agricultural production and plant species that will improve environmental health and quality.
In 2022, the median income from farming was $178,692 for households operating commercial farms, and their median total household income was $252,728.
What is the most consumed grain in the world? ›
Just 15 plant crops provide 90 percent of the world's food energy intake (exclusive of meat), with rice, maize, and wheat comprising 2/3 of human food consumption. These three are the staples of about 80 percent of the world population, and rice feeds almost half of humanity.
Who buys corn from farmers? ›
Field Corn (by far the majority of the type of corn that you see): Usually sold either to a local grain elevator/cooperative or local processor (corn syrup producers, ethanol plants, etc).
What is an acre of corn worth? ›
The expected gross profit for this productivity soil is $449/acre for corn and $442/acre for soybeans. Assuming a 50-50 rotation the average gross return would be $446/acre. The net return would be calculated by subtracting out the land rent.
What is the #1 producing state of soybeans? ›
This statistic shows the ten U.S. states in soybean production from 2019 to 2023. Illinois topped the list in 2023, with almost 649 million bushels produced that year.
What percentage of the United States soybean acres was planted with genetically modified seeds? ›
Based on USDA survey data, the percent of domestic soybean acres planted with HT seeds rose from 17 percent in 1997 to 68 percent in 2001, before plateauing at 94 percent in 2014. In 2021, soybean HT acreage increased to 95 percent and remained there in 2023.
How much is an acre of soybeans worth? ›
A 65-bushel yield for soybeans would require a price of $13.29 per bushel to break even. With November 2023 soybean futures trading at $13.81 per bushel, an expected yield of 65 bushels would result in a producer return of $34 per acre.
How much soybeans does the U.S. import? ›
The main destinations of United States exports on Soybeans were China ($18B), Mexico ($3.64B), Egypt ($1.97B), Japan ($1.82B), and Germany ($1.4B). In 2022, United States imported $438M in Soybeans, mainly from Canada ($129M), Argentina ($108M), Turkey ($71.8M), Togo ($42.4M), and Russia ($31.3M).
