March 14, 2005

Allendale pegs US corn acres at 81.6 million, soy at 72.9 million

Allendale Inc., a research and brokerage firm located in McHenry, Ill., on Friday released 2005 acreage estimates from its 16th annual Farmers Prospective Planting Survey. The firm pegged US soybean acreage at 72.972 million acres and corn plantings at 81.672 million.

The producer survey also suggested wheat seedings at 58.331 million acres.

The acreage estimates are based on producer surveys conducted across the US Midwest from Feb. 14-25.

Allendale said the soybean estimate would correlate into the fewest soybean acres since 1998 when 72.025 million acres were planted. Using Allendale's 40.52 bushel-per-acre trend yield, it would imply soybean production of 2.906 billion bushels versus last year's 3.141 billion bushel crop.

The corn estimate would be the most in 20 years. Using Allendale's 145.36 bushel/acre trend yield, it would imply corn production of 10.780 billion bushels versus last year's 11.807 billion bushel crop.

The wheat acres would be the lowest planted acreage since 54.900 million acres were planted in 1972. Using Allendale's 42.97 bushel/acre trend yield, it would imply wheat production of 2.103 billion bushels versus last year's 2.158 billion bushel production.

The USDA is scheduled to release its planting intention forecasts on March 31.

Last year, corn planted acreage measured 80.9 million acres, soybean acreage came in at 75.2 million and wheat measured 59.7 million.