A new planting intentions survey from Allendale shows market prices are influencing planting decisions. The Illinois-based analytical research and brokerage firm released its planting estimates this week following a nationwide survey that spanned 29 states.
The survey estimates corn planting intentions of 92.8 million acres, two million more acres than in 2020. This would be the fourth largest of all time and 4.5 million off the 2012 peak of 97.2 million. Allendale’s production estimate would imply an increase of 1.058 billion bushels over 2020, a production record, if achieved. Soybean planting intentions are seen at 90.3 million acres, 7.2 million more than last year. This would be a record acreage, 155,000 over the 2017 peak of 90.16 million. Allendale’s 4.5-billion-bushel production estimate would also be a record and 422 million over last year. Wheat acreage is estimated at 46.4 million acres, 2.1 million more than last year. Assuming normal abandonment and trend yields, Allendale’s production estimate of 1.9 billion is 84 million bushels over last year.