US Soybean Acreage Leaps Ahead of Corn

For the first time in 35 years, US farmers have planted more soybean acreage than corn. The most recent USDA Acreage Report cites soybean area planted at 89.55 million acres, with corn plantings coming in at 89.12 million acres. Previous estimates had soybean and corn acreage at 89.69 million and 88.56 million acres, respectively. Despite ongoing trade disputes with top soybean buyer China, and record-high stocks from a 2017 bumper harvest, many farmers are still choosing to plant the crop over corn. Soybeans have tended to have cheaper production costs and higher net returns than corn. As the US growing season progresses, Gro Intelligence can provide subscribers with insights on production and trade data to stay current with the global soybean market.