Corn – 2021 Prospective Plantings up 0.4% YOY but Finish Below Expectations

According to USDA’s annual prospective plantings report, 2021 corn plantings of 91.1 million acres finished 0.3 million acres, or 0.4%, above the previous year figure, reaching a five year high level. Corn prospective plantings were 2.2% below average analyst estimates of 93.2 million acres, however.

Prospective corn plantings for 2021 were led by Iowa (13.2 million acres), followed by Illinois (10.9 million acres) and Nebraska (9.9 million acres). The aforementioned states combined to account for over a third of the total U.S. prospective corn plantings.

The largest YOY increases in prospective corn plantings were experienced throughout North Dakota (+1,350,000 acres) and South Dakota (+650,000 acres). Iowa (-400,000 acres) and Illinois (-400,000 acres) experienced the largest YOY declines in prospective corn plantings.

Soybeans – 2021 Prospective Plantings up 5.4% YOY but Finish Below Expectations

2021 soybean plantings of 87.6 million acres finished 4.5 million acres, or 5.4%, above the previous year figure, reaching a three year high level. Soybean prospective plantings were 2.7% below average analyst estimates of 90.0 million acres, however.

Prospective soybean plantings for 2021 were led by Illinois (10.7 million acres), followed by Iowa (9.8 million acres) and Minnesota (7.8 million acres). The aforementioned states combined to account for nearly a third of the total U.S. prospective soybean plantings.

The largest YOY increases in prospective soybean plantings were experienced throughout North Dakota (+1,250,000 acres) and South Dakota (+750,000 acres). Missouri (-50,000 acres) and Kansas (-50,000 acres) experienced the largest YOY declines in prospective soybean plantings.

Wheat – 2021 Prospective Plantings up 4.5% YOY, Finish Above Expectations

2021 wheat plantings of 46.4 million acres finished 2.0 million acres, or 4.5%, above the record low level experienced throughout the previous year, rebounding to a three year high level, overall. Wheat prospective plantings were 3.1% above average analyst estimates of 45.0 million acres.

Prospective wheat plantings for 2021 were led by Kansas (7.3 million acres), followed by North Dakota (+6.4 million acres), Texas (5.5 million acres) and Montana (5.4 million acres). The aforementioned states combined to account for over half of the total U.S. prospective wheat plantings.

The largest YOY increases in prospective wheat plantings were experienced throughout Kansas (+700,000 acres) and Texas (+600,000 acres). North Dakota (-215,000 acres) and Montana (-180,000 acres) experienced the largest YOY declines in prospective wheat plantings.

Total Principal Crops – 2021 Prospective Plantings up 2.0% YOY

2021 total principal crop plantings of 316.2 million acres finished 6.1 million acres, or 2.0%, above the previous year figure, reaching a three year high.

Crops included in the area planted are corn, soybeans, wheat, sorghum, oats, barley, rye, rice, peanuts, sunflower, cotton, dry edible beans, chickpeas, potatoes, sugarbeets, canola and proso millet. Harvested acreage is used for all hay, tobacco and sugarcane in computing total area planted. Values for 2021 were carried forward from 2020 for potatoes, proso millet, rye and sugarcane.