USDA sees US 2021-22 corn, soybean acreage lower than previous estimates
The US corn acreage for the 2021-22 marketing year (September-August) has been estimated at 91.1 million acres, while soybean acreage in the country for 2021-22 is seen at 87.6 million acres, the US Department of Agriculture said March 31 in its Prospective Plantings report.
Acreage estimates for both corn and soybean are lower than the USDA’s February Outlook Forum forecast. The USDA in its Outlook Forum expected area under corn in 2021-22 to be at 92 million acres, while soybean acres were seen at 90 million acres.
The average analyst estimate was also higher — at 93.2 million acres for corn and 89.99 million acres for soybean. S&P Global Platts Analytics estimated acreage under US corn in 2021-22 to be at 93 million acres and soybean acreage to be at 90 million acres.