April 23, 2017

Allendale, Inc. Survey: US Producers Report Highest Soybean Acreage Ever

CHICAGO, IL. (March 14, 2017) – Allendale, Inc. a Chicago area agricultural commodity brokerage and analysis firm estimates that US grain and oilseed producers will increase their soybean acres to the highest level ever, while corn and wheat will be lowered.

The results are based on the firm’s 28th annual Producer Acreage Survey, with submissions direct from producers in 33 states by phone and online from February 27, 2017 to March 10, 2017.

28th Annual Acreage Survey Results

Crop USDA 2016 USDA Ag Forum Allendale 2017 Vs. 2016
Corn 94.004 90.0 90.018 -3.986
Soybeans 83.433 88.0 88.825 +5.392
All Wheat 50.154 46.0 45.967 -4.187
Winter Wheat 36.137 - 32.677 -3.460
Durum Wheat 2.412 - 2.045 -0.367
Other Spring Wheat 11.605 - 11.245 -0.360

Potential Production

Crop Survey

Planted

Allendale Harvested Allendale

Trend Yield

Implied Production
Corn 90.018 82.529 168.17 13.879
Soybeans 88.825 87.955 47.08 4.141
All Wheat 45.967 39.237 47.30 1.856

Corn planting intentions of 90.018 million acres would be the seventh largest acreage in recent times. It would be 7.3 million off the recent 2012 reading of 97.291. Allendale’s production estimate would imply a production decrease of 1.3 billion off last year’s record. Lower acres and lower yields are the word for 2017.

Soybean planting intentions are seen at 88.825 million acres, the largest ever. Allendale’s production estimate would be 166 million under last year’s record. Higher acreage, but a return to normal weather and trend yields would suggest lower production.

Wheat acreage is estimated at 45.967 million acres. This would be the smallest acreage since the start of USDA’s current wheat planting data-series going back to 1919. Allendale’s production estimate is 454 million under last year’s level.

For questions and comments on the survey, please contact Rich Nelson, Chief Strategist at 800-262-7538 or rnelson@allendale-inc.com.

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