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Allendale, Inc. Survey: US Producers Report Third Highest Soybean Acreage Ever
CHICAGO, IL. (March 16, 2016) – Allendale, Inc. a Chicago area agricultural commodity brokerage and analysis firm estimates that US grain and oilseed producers will increase their corn and wheat acres, while lowering their planted soybean acres. Totals are seen slightly higher than USDA’s Agricultural Outlook Forum estimates.
The results are based on the firm’s 27th annual Producer Acreage Survey, with submissions direct from producers in 25 states by phone and online from February 26, 2015 to March 11, 2016.
Corn planting intentions of 90.431 million acres would be the sixth largest acreage of the past ten years. Allendale’s production estimate would imply a production increase of 31 million over last year’s record.
Soybean planting intentions are seen at 82.575 million acres, the third largest ever. Allendale’s production estimate would be 207 million under last year’s record level due to a return back from record 2015 yields.
Wheat acreage is estimated at 51.769 million acres. This would be the smallest acreage since 1970. Allendale’s production estimate is 53 million under last year’s level.
For questions and comments on the survey, please contact Rich Nelson, Chief Strategist at 800-262-7538 or email@example.com.