U.S. Acreage Update – Jun ’20
Corn – Planted Acres Increase to a Four Year High Level but Finish Below Expectations
According to the USDA’s June acreage report, corn planted acres for 2020 of 92.0 million acres finished 5.0 million acres, or 5.1%, below the March estimated figure but remained 2.3 million acres, or 2.6%, above the previous year figures, finishing at a four year high. Corn plantings finished 3.4% below analyst expectations of 95.2 million acres, however.
Corn planted acres for 2020 were led by Iowa (14.0 million acres), followed by Illinois (10.9 million acres) and Nebraska (9.8 million acres). The aforementioned states combined to account for over a third of the total U.S. corn plantings.
Corn planted acres for 2020 were revised most significantly lower within North Dakota (-800,000 acres), followed by Nebraska (-700,000 acres) and South Dakota (-600,000 acres). Wisconsin (+100,000 acres) experienced the largest increase in corn planted acres from the March report.
Corn acres finished most significantly higher on a YOY basis throughout South Dakota (+1,050,000 acres), followed by Ohio (+800,000 acres) and Iowa (+500,000 acres). North Dakota (-1,100,000 acres) experienced the largest YOY decline in corn plantings.
Soybeans – Planted Acres Increase From the Previous Year but Finish Below Expectations
Soybean planted acres for 2020 of 83.8 million acres finished 315,000 acres, or 0.4%, above the March estimated figure and 7.7 million acres, or 10.2%, above the previous year figure. Soybean plantings finished 1.1% below analyst expectations of 84.7 million acres, however.
Soybean planted acres for 2020 were led by Illinois (10.4 million acres), followed by Iowa (9.4 million acres) and Minnesota (7.4 million acres). The aforementioned states combined to account for nearly a third of all U.S. soybean plantings.
Soybean planted acres for 2020 were revised most significantly higher within Indiana (+300,000 acres) and Kansas (+300,000 acres). North Dakota (-600,000 acres) experienced the largest decline in soybean planted acres from the March report.
Soybean acres finished most significantly higher on a YOY basis throughout South Dakota (+1,700,000 acres), followed by Kansas (+750,000 acres) and Minnesota (+550,000 acres).
Wheat – Planted Acres Decline to a Record Low Level, Finish Below Expectations
Wheat planted acres for 2020 of 44.3 million acres finished 405,000 acres, or 0.9%, below the March estimated figure and 908,000 acres, or 2.0%, below the previous year figure, reaching a record low level. Wheat plantings finished 1.0% below analyst expectations of 44.7 million acres.
Wheat planted acres for 2020 were led by North Dakota (6.83 million acres), followed by Kansas (6.7 million acres) and Montana (5.16 million acres). The aforementioned states combined to account for over 40% of the total U.S. wheat plantings.
Wheat planted acres for 2020 were revised most significantly lower within Montana (-310,000 acres), followed by Kansas (-100,000 acres). Idaho (+55,000 acres) and Colorado (+50,000 acres) experienced the largest increases in wheat planted acres from the March report.
Wheat acres finished most significantly lower on a YOY basis throughout North Dakota (-675,000 acres), followed by Montana (-290,000 acres) and Colorado (-250,000 acres). Texas (+300,000 acres) experienced the largest YOY increase in wheat plantings.
Corn planted acres for 2020 were led by Iowa (14.0 million acres), followed by Illinois (10.9 million acres) and Nebraska (9.8 million acres). The aforementioned states combined to account for over a third of the total U.S. corn plantings.
Corn planted acres for 2020 were revised most significantly lower within North Dakota (-800,000 acres), followed by Nebraska (-700,000 acres) and South Dakota (-600,000 acres). Wisconsin (+100,000 acres) experienced the largest increase in corn planted acres from the March report.
Corn acres finished most significantly higher on a YOY basis throughout South Dakota (+1,050,000 acres), followed by Ohio (+800,000 acres) and Iowa (+500,000 acres). North Dakota (-1,100,000 acres) experienced the largest YOY decline in corn plantings.
Soybeans – Planted Acres Increase From the Previous Year but Finish Below Expectations
Soybean planted acres for 2020 of 83.8 million acres finished 315,000 acres, or 0.4%, above the March estimated figure and 7.7 million acres, or 10.2%, above the previous year figure. Soybean plantings finished 1.1% below analyst expectations of 84.7 million acres, however.
Soybean planted acres for 2020 were led by Illinois (10.4 million acres), followed by Iowa (9.4 million acres) and Minnesota (7.4 million acres). The aforementioned states combined to account for nearly a third of all U.S. soybean plantings.
Soybean planted acres for 2020 were revised most significantly higher within Indiana (+300,000 acres) and Kansas (+300,000 acres). North Dakota (-600,000 acres) experienced the largest decline in soybean planted acres from the March report.
Soybean acres finished most significantly higher on a YOY basis throughout South Dakota (+1,700,000 acres), followed by Kansas (+750,000 acres) and Minnesota (+550,000 acres).
Wheat – Planted Acres Decline to a Record Low Level, Finish Below Expectations
Wheat planted acres for 2020 of 44.3 million acres finished 405,000 acres, or 0.9%, below the March estimated figure and 908,000 acres, or 2.0%, below the previous year figure, reaching a record low level. Wheat plantings finished 1.0% below analyst expectations of 44.7 million acres.
Wheat planted acres for 2020 were led by North Dakota (6.83 million acres), followed by Kansas (6.7 million acres) and Montana (5.16 million acres). The aforementioned states combined to account for over 40% of the total U.S. wheat plantings.
Wheat planted acres for 2020 were revised most significantly lower within Montana (-310,000 acres), followed by Kansas (-100,000 acres). Idaho (+55,000 acres) and Colorado (+50,000 acres) experienced the largest increases in wheat planted acres from the March report.
Wheat acres finished most significantly lower on a YOY basis throughout North Dakota (-675,000 acres), followed by Montana (-290,000 acres) and Colorado (-250,000 acres). Texas (+300,000 acres) experienced the largest YOY increase in wheat plantings.