MCHENRY, Ill. — Commodity traders and U.S. Department of
Agriculture analysts have anticipated a 3 million-acre swing toward soybeans in
2014, but a recent survey found even a greater shift from corn.
Allendale Inc. released its 2014 acreage survey ahead of
USDA’s March 31 prospective plantings report with respondents indicating a
projected record 83.212 million soybean acres.
Using Allendale’s estimate of harvested acreage and a 44.29
bushel per acre trend yield, it would imply production of 3.639 billion bushels.
This would be a record production. Last year’s production
reached 3.289 billion bushels on 76.533 million acres.
Survey respondents indicated corn planting intentions of
92.349 million acres. If realized, it would be the fourth largest since 1944
when 94.473 million acres were planted.
Allendale’s estimate of harvested acreage and a 163.06
bushel per acre trend yield would imply the second largest production of 13.781
Corn growers planted 95.365 million acres last year,
resulting in 13.925 billion bushels of production.
All wheat acreage from the survey is estimated at 55.324
million acres, down from 56.156 million acres in 2013 and below the 55.5 million
acres projected in the recent USDA Ag Forum.
Winter wheat acreage was seen 37,000 larger than that
implied by USDA’s winter wheat seedings report.
Using Allendale’s harvested acreage and 45.85 bushel per
acre trend yield, it would imply production of 2.175 billion bushels. This would
be close to the five-year average production of 2.164 billion bushels.
Twenty-eight states were represented in the survey.