Allendale, Inc. estimates US grain and oilseed producers will increase corn and wheat acres, while lowering the number of acres sown to soybean. All three survey totals are higher than USDA’s Agricultural Outlook Forum estimates.
Corn planting intentions of 90.431 million acres would be the sixth largest acreage of the past ten years. Allendale’s production estimate would imply a production increase of 31 million over last year’s record.
Soybean planting intentions are seen at 82.575 million acres, the third largest ever. Allendale’s production estimate would be 207 million under last year’s record level due to a return back from record 2015 yields.
Wheat acreage is estimated at 51.769 million acres. This would be the smallest acreage since 1970. Allendale’s production estimate is 53 million under last year’s level.
The results are based on the firm’s 27th annual Producer Acreage Survey. Submissions were made directly by producers in 25 states by phone and online from February 26, 2016 to March 11, 2016.
The United States Department of Agriculture is now surveying some 80,000 producers on their cropping intentions for the year. USDA's 2016 Prospective Plantings report is due March 31st.