CNS Canada – Farmers in the United States are expected to increase their corn seedings over the next decade while reducing soybean area, according to early baseline projections from the U.S. Department of Agriculture released Nov. 2.
The complete USDA Agricultural Projections to 2028 report will be released in February. The projections are based on specific assumptions about macroeconomic conditions, policy, weather, and international developments, with no domestic or external shocks to global agricultural markets.
For 2019/20, the projections see soybean area declining to 82.5 million acres, from 89.1 million in 2018/19. The acreage base is forecast to stay in the 82 million to 85 million acre range over the next decade, although increasing yield projections will make up for the lost acres when it comes to production.
Meanwhile, planted U.S. corn area is forecast to rise to 92.0 million acres in 2019/20, from 89.1 million. The corn acreage is projected to eventually hit 93.0 million, before edging back down to 91.5 million by 2028/29.
The USDA’s baseline projections see total wheat area in the country rising to 51.0 million acres in 2019/20, from 47.8 million. However, wheat area is then forecast to see a steady decline over the following decade.