Annual U.S. Prospective Plantings Update – Mar ’18
Corn – 2018 Prospective Plantings Down 2.4% YOY, Finish Below Analyst Expectations
According to USDA’s annual prospective plantings report, 2018 corn plantings of 88.0 million acres finished 2.1 million acres, or 2.4%, below the previous year figure. Corn prospective plantings were 1.6% below average analyst estimates of 89.4 million acres.
Prospective corn plantings for 2018 were led by Iowa (13.3 million acres), followed by Illinois (11.0 million acres) and Nebraska (9.3 million acres). The aforementioned states combined to account for over a third of the total U.S. prospective corn plantings.
The largest YOY declines in prospective corn plantings were experienced throughout Minnesota (-550,000 acres), Kansas (-400,000 acres) and North Dakota (-370,000 acres). Ohio experienced the largest YOY increase in prospective corn plantings (+50,000 acres). Iowa prospective corn plantings remained at a ten year low, finishing flat YOY.
Soybeans – 2018 Prospective Plantings Down 1.3% YOY, Finish Below Analyst Expectations
2018 soybean plantings of 89.0 million acres finished 1.2 million acres, or 1.3%, below the record high plantings experienced last year. Soybean prospective plantings were 2.3% below average analyst estimates of 91.1 million acres.
Prospective soybean plantings for 2018 were led by Illinois (10.6 million acres), followed by Iowa (9.8 million acres) and Minnesota (7.9 million acres). The aforementioned states combined to account for nearly a third of the total U.S. prospective soybean plantings.
The largest YOY declines in prospective soybean plantings were experienced throughout Minnesota (-250,000 acres), Kansas (-250,000 acres) and Ohio (-250,000 acres). Indiana experienced the largest YOY increase in prospective soybean plantings (+150,000 acres).
Wheat – 2018 Prospective Plantings up 2.9% YOY, Finish Above Analyst Expectations
2018 wheat plantings of 47.3 million acres finished 1.3 million acres, or 2.9%, above the record low plantings experienced last year. Wheat prospective plantings were 2.3% above average analyst estimates of 46.3 million acres.
Prospective wheat plantings for 2018 were led by Kansas (7.7 million acres), followed by North Dakota (7.49 million acres) and Montana (4.95 million acres). The aforementioned states combined to account for over 40% of the total U.S. prospective wheat plantings.
The largest YOY increases in prospective wheat plantings were experienced throughout North Dakota (+810,000 acres), Minnesota (+441,000 acres) and Colorado (+152,000 acres). Oklahoma experienced the largest YOY decline in prospective wheat plantings (-200,000 acres).
Prospective corn plantings for 2018 were led by Iowa (13.3 million acres), followed by Illinois (11.0 million acres) and Nebraska (9.3 million acres). The aforementioned states combined to account for over a third of the total U.S. prospective corn plantings.
The largest YOY declines in prospective corn plantings were experienced throughout Minnesota (-550,000 acres), Kansas (-400,000 acres) and North Dakota (-370,000 acres). Ohio experienced the largest YOY increase in prospective corn plantings (+50,000 acres). Iowa prospective corn plantings remained at a ten year low, finishing flat YOY.
Soybeans – 2018 Prospective Plantings Down 1.3% YOY, Finish Below Analyst Expectations
2018 soybean plantings of 89.0 million acres finished 1.2 million acres, or 1.3%, below the record high plantings experienced last year. Soybean prospective plantings were 2.3% below average analyst estimates of 91.1 million acres.
Prospective soybean plantings for 2018 were led by Illinois (10.6 million acres), followed by Iowa (9.8 million acres) and Minnesota (7.9 million acres). The aforementioned states combined to account for nearly a third of the total U.S. prospective soybean plantings.
The largest YOY declines in prospective soybean plantings were experienced throughout Minnesota (-250,000 acres), Kansas (-250,000 acres) and Ohio (-250,000 acres). Indiana experienced the largest YOY increase in prospective soybean plantings (+150,000 acres).
Wheat – 2018 Prospective Plantings up 2.9% YOY, Finish Above Analyst Expectations
2018 wheat plantings of 47.3 million acres finished 1.3 million acres, or 2.9%, above the record low plantings experienced last year. Wheat prospective plantings were 2.3% above average analyst estimates of 46.3 million acres.
Prospective wheat plantings for 2018 were led by Kansas (7.7 million acres), followed by North Dakota (7.49 million acres) and Montana (4.95 million acres). The aforementioned states combined to account for over 40% of the total U.S. prospective wheat plantings.
The largest YOY increases in prospective wheat plantings were experienced throughout North Dakota (+810,000 acres), Minnesota (+441,000 acres) and Colorado (+152,000 acres). Oklahoma experienced the largest YOY decline in prospective wheat plantings (-200,000 acres).