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....
Corn 368-2 down 0-2
Wheat 470-6 down 6-4
We're looking for a drift down into late summer, then a weather related boost.