Allendale sees 2022 U.S. soybean acreage higher than government forecast

Foreign media, March 16 news: Research firm Allendale released a report on Wednesday, predicting that the U.S. soybean and corn acreage may be higher than the U.S. Department of Agriculture currently expects.

According to the annual planting intention survey report released by Allendale, the US soybean planting area is expected to be 89.281 million acres in 2022, and the corn planting area is expected to be 92.421 million acres.

For comparison, the USDA forecast at the Annual Outlook Forum in February that the U.S. will be sown to 88 million acres of soybeans and 92 million acres of corn.

In 2021, the U.S. soybean planting area will be 87.195 million acres, and the corn planting area will be 93.357 million acres.

The U.S. Department of Agriculture said last month that high soybean prices could help encourage more acreage, while higher production costs such as fertilizers would limit corn acreage.