Nate Bruce, Farm Business Management Specialist, nsbruce@udel.edu
With input costs continually rising, there has been considerable speculation for months now whether more soybeans would be planted instead of corn nationally, and in the Mid-Atlantic region. We may have more insight into this question after USDA released their annual prospective plantings report last week on March 31st. USDA estimates corn acreage will be down 4% nationally in 2022 as compared to 2021. Soybean acreage is estimated to increase 4% nationally in 2022 as compared to 2021. USDA estimates all Mid-Atlantic states will have lower corn acreage planted in 2022 compared to 2021. Their prediction for each state is given below:
- Delaware – Down 4%
- Maryland – Down 2%
- New Jersey – Down 3%
- Pennsylvania – Down 8%
- Virginia – Down 13%
It should be noted that Virginia’s significant estimated loss in corn acreage in 2022 is more than likely not just influenced by producers looking to switch to soybeans, but also influenced by acreage competition for cotton as well. The USDA prospective planting report predicts an increase in cotton acreage nationally by 9%. It will be interesting to see what happens this year in our region and how markets will respond.
View the the USDA Prospective Plantings Report >