Allendale Acreage Estimates: Record Soybean Planting Intentions
3/19/2010
Allendale Inc, an analytical research and brokerage firm located in McHenry, Ill., released its 2010 acreage estimates based on their annual producer survey:
| |
Allendale 2010 |
Change vs. 2009 |
| Corn |
90.152 |
+3.670 |
| Soybeans |
79.111 |
+1.660 |
| Total Wheat |
53.467 |
-5.666 |
| Winter Wheat |
37.172 |
-6.139 |
| Durum Wheat |
2.567 |
+0.013 |
| Other Spring Wheat |
13.728 |
+0.460 |
(million acres)
Corn planting intentions of 90.152 million acres would be the second largest since 1944 when 95.475 million acres were planted. The recent high in acres was 93.527 million in 2007. Using Allendale Inc. 160.42 bushel/acre trend yield, it would imply record production of 13.243 billion bushels versus last year’s 13.131 billion bushel crop.
Soybean planting intentions of 79.111 million acres is a new record. Using Allendale Inc. 42.69 bushel/acre trend yield, it would imply the second largest soybean production at 3.338 billion bushels. Last year’s record production was 3.359 billion.
Wheat acreage is estimated at 53.467 million acres. This is the smallest since 1970 when 48.739 million acres were planted. Using Allendale Inc. 43.54 bushel/acre trend yield, it would imply wheat production of 1.983 billion bushels versus last year’s 2.216 billion bushel production. The survey verified USDA’s winter wheat seedings report’s 37.097 with our own 37.172 million acre estimate.
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Allendale
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