The 2023 Prospective Plantings report finds farmers expect to plant more corn and soybeans this year than last year.

According to USDA’s National Agricultural Statistics Service (NASS), producers surveyed across the United States intend to plant 92.0 million acres of corn in 2023, up 4% from last year, and 87.5 million acres of soybeans this year, up slightly from last year.

Planted acreage intentions for corn are up or unchanged in 40 of the 48 estimating states. The largest increase is expected in North Dakota, where producers intend to plant 800,000 more acres than in 2022. If realized, the planted area of corn in Arizona and Idaho will be the largest on record. Soybean acreage increases from last year of 100,000 or more are expected in Minnesota, North Dakota, South Dakota, and Wisconsin. Record high acreage is expected in Illinois, Nebraska, New York, Ohio, and Wisconsin.

NASS also released the quarterly Grain Stocks report to provide estimates of on-farm and off-farm stocks as of March 1. Key findings in that report include:

Corn stocks totaled 7.40 billion bushels, down 5% from the same time last year. On-farm corn stocks were up 1% from a year ago, while off-farm stocks were down 10%.
Soybeans stored totaled 1.69 billion bushels, down 13% from March 1, 2022. On-farm soybean stocks were down slightly from a year ago, while off-farm stocks were down 21%