Acres planted to corn are lower compared to last year while soybean acreage is a little higher, according to the Acreage report from USDA‘s National Agricultural Statistics Service (NASS).
USDA estimates 89.9 million acres of corn planted in the United States for 2022, down 4% from last year. Soybean area planted is estimated at 88.3 million acres, up 1% from last year. NASS surveyed approximately 9,100 segments of land and more than 64,000 farm operators during the first two weeks of June to gather information on what farmers actually planted.
NASS also released the quarterly Grain Stocks report to provide estimates of on-farm and off-farm stocks as of June 1. Corn stocks totaled 4.35 billion bushels, up 6% from the same time last year. On-farm corn stocks were up 22% from a year ago, but off-farm stocks were down 6%. Soybeans stored totaled 971 million bushels, up 26% from June 1, 2021. On-farm soybean stocks were up 51% from a year ago, while off-farm stocks were up 17%.