The USDA’s forecast for planted acres of grains shows an increase over the 2024 crop year, but will fall short of 2023’s record plantings.
The USDA’s forecast for planted acres of grains shows an increase over the 2024 crop year, but will fall short of 2023’s record plantings.
Transcript
The USDA’s forecast for planted acres of grains shows an increase over the 2024 crop year, but will fall short of 2023’s record plantings.
Wheat acres are believed to be increasing nearly 2 percent, but a dry forecast resulting in a 2 percent drop in yield, is creating the potential for a crop of 1.93 billion bushels.
Favorable prices for corn are expected to increase planted acres 3.7% to 94 million acres, and are predicted to produce a record crop of 15.5 billion bushels, a 4% increase compared to 2024. Corn yield is estimated at 181 bushels per acre. The 2025 corn outlook is for greater domestic use, lower exports and higher ending stocks.
Soybean acreage is expected to decline 3.5% to 84 million acres, with production seen as flat compared to last year at 4.37 billion bushels. Yield estimates are at 1.8 bushels higher to 52.5 bushels per acre. Soybean oil demand for biofuels is expected to climb nearly 3 percent for the year.
Beef production is expected to decline 2 percent, with feedlot placements expected to drop. Lower cattle imports are expected to further tighten the cattle market.
The prices of diesel and anhydrous ammonia are trending downward, which may increase profitability for farmers.
For Market to Market, I’m Peter Tubbs.
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