Producers surveyed across the United States intend to plant an estimated 97.0 million acres of corn in 2020, up eight percent from last year.
The Agriculture Department’s National Agricultural Statistics Survey released its Prospective Planting report Tuesday. The report says planted acreage intentions for corn are up or unchanged in 38 of the 48 estimating states.
Soybean growers intend to plant 83.5 million acres in 2020, up ten percent from last year, the third-highest planted acreage on record. Compared with last year, planted acreage is expected to be up or unchanged in 22 of the 29 states estimated.
NASS also released the quarterly Grain Stocks report as of March 1. The report says corn stocks totaled 7.95 billion bushels, down eight percent from the same time last year. On-farm corn stocks were down 13 percent from a year ago, but off-farm stocks were up less than one percent. And, Soybeans stored totaled 2.25 billion bushels, down 17 percent. On-farm soybean stocks were down 20 percent, while off-farm stocks were down 15 percent.
