CoBank reposted this
There were a lot of corn and soybean acres yet to be planted in last week's USDA-NASS Acreage report. It's normal for some acres to not be planted yet by the time USDA surveys farmers in the first two weeks of June on planted acreage. The Acreage report, though, showed a notable increase over last year with unplanted corn acres tallied at 3.4 million acres, up 35% from last year's 2.5 million, and unplanted soybean acres at 12.8 million, up 55% from last year's 8.2 million. Given the wet conditions and flooding in the northwestern Midwest, what's going to happen to those acres that were reported as unplanted? Some farmers will likely take prevent plant insurance on them. Others will plant them later than desired, which will thereby negatively impact yields. We won't know for sure until USDA-FSA and USDA-RMA data comes in later in the year. Either way, the higher total of unplanted acres this year raises the risk of reduced acreage and/or lower yields for both corn and soybeans. #corn #soybeans #grain #oilseeds #agriculture #commodities #OATT CoBank
Thanks for sharing
Very informative
Tanner Ehmke. Thanks for sharing the perspective. Happy Monday!
Independent Commodity Analyst/Consultant
3wRemind people that unplanted soybean acres are always higher as very little of the second crop has been seeded. That varies from 3-4 mln acres on any given year. The % of the acreage is reported by USDA every June.