The first report on prospective soybean planting for the coming season was issued by the U.S. Department of Agriculture on March 31st. This year’s report indicates farmers are planning to plant soybeans on 76.0 million acres, up slightly from last year. If realized, the U.S. planted acreage would be the largest on record. USDA economists indicated that acreage increases of 100,000 acres or more are expected in Arkansas, Iowa, Kansas, Mississippi, Nebraska, North Carolina, North Dakota, and Ohio. They are also predicting acreage declines in Missouri and South Dakota. (Comment-If we have a “normal” crop year and soybean yields are on the long-term trend line (41.6 bushels per acre), then we would have a 3.12 billion bushel crop, which is about 160 million bushels larger than the 2008 crop.)

Soybean Planting Intentions By State Chart

It is interesting to compare corn and soybean acreages in the U.S., since in the Midwest a corn-soybean crop rotation is common. As one can see from the chart the relationship between corn and soybean acres is highly inversely correlated. The total acres of corn and soybeans does not significantly change year to year, however, the number of acres planted to these crops will change with market demand and profit potential.