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US Corn Acreage Shrinks, While Soybean and Cotton Planting Sees an Uptick

The US corn acreage is projected to decrease for the 2024 growing season, while soybean and cotton acreage are expected to increase, according to the latest Acreage report released by the USDA's National Agricultural Statistics Service (NASS). The report, based on surveys conducted during the first two weeks of June, provides insights into the actual planting decisions made by farmers.

The report estimates that 91.5 million acres of corn were planted in the United States for the 2024 growing season, representing a 3% decrease from 2023. This decline is likely influenced by various factors, including market prices, demand, and government support programs. Meanwhile, soybean acreage is projected to rise, with farmers expecting to harvest 86.1 million acres, marking a 3% increase from last year. The report indicates that 96% of the soybean acreage was planted using herbicide-resistant seed varieties.

Cotton acreage also saw a significant increase, with a total of 11.7 million acres planted, reflecting a 14% jump from 2023. Upland cotton acreage is estimated at 11.5 million acres, a 14% increase, while American Pima planted area reached 182,000 acres, representing a 24% increase.

Wheat planting, however, experienced a decline. The total wheat planted area for 2024 is estimated at 47.2 million acres, down 5% from last year. Winter wheat planting saw the largest decrease, with 33.8 million acres planted, an 8% reduction from 2023. Other spring wheat planting area increased by 1%, reaching 11.3 million acres. Durum wheat planting experienced the largest increase, with 2.17 million acres planted, a 29% jump from the previous year.