Market News & Headlines >> Corn, Soybean, Wheat Planting Intentions Seen Up

USDA is expected to report that U.S. producers intend to plant more acres of corn, soybeans and wheat this year than they did in 2022 when it releases its annual Prospective Plantings report at 11:00 a.m. CT on Friday morning.

In contrast, U.S. cotton planting intentions are expected to be down significantly compared with last year.

Trade expectations for U.S. corn planting intentions average 90.9 million acres in a range from 87.7-92.1 million compared with USDA’s February Outlook Forum estimate of 90.1 million acres and last year’s plantings of 88.6 million.

Pre-report expectation for soybean planting intentions average 88.3 million acres in a range from 87.4-89.6 million acres compared with USDA’s February Outlook Forum estimate of 87.50 million acres and last year’s final plantings of 87.45 million.

Trade estimates of U.S. all-wheat seeding intentions average 48.9 million acres in  a range from 45.7-50.0 million acres compared with USDA’s February estimate of 49.5 million and last year’s final seedings of 45.7 million acres.

Estimates of winter wheat seedings average 36.3 million acres versus last year’s final seedings of 33.3 million acres. Expectations for “other” spring wheat seeding intentions average 10.9 million acres compared with last year’s final seedings of 10.8 million acres. Expectations for durum wheat seeding intentions average 1.6 million acres versus last year’s final seedings of 1.7 million.