NOW AVALIABLE! 2023 Acreage Survey Results February 24, 2023
Allendale, Inc. announces results of the 2023 acreage survey.
March 15, 2023: McHenry, Illinois based analytical research/brokerage firm Allendale Inc. estimates the following 2023 acreage based on its annual nationwide producer survey: There were 24 separate states participating this year.
ACREAGE SURVEY RESULTS
2022 USDA AGFORUM ALDL 2023 Vs. 2022
Corn 88.579 91.0 90.414 +1.835
Soybeans 87.450 87.5 87.768 +0.318
All Wheat 45.738 49.5 48.706 +2.968
Winter Wheat 33.271 36.524 +3.253
Durum Wheat 1.632 1.575 -0.057
Other Spring Wheat 10.835 10.607 -0.228
POTENTIAL PRODUCTION
SURVEY USDA IMPLIED
PLANTED HARVESTED TREND YIELD PRODUCTION
Corn 90.414 82.565 181.5 14.986
Soybeans 87.768 86.966 52.0 4.522
All Wheat 48.706 37.784 49.1 1.855
PRODUCER REPORTED CROP SALES
2022 ALDL SURVEY 2023 ALDL SURVEY
OLD NEW OLD NEW
Corn 76% 17% 75% 15%
Soybeans 88% 22% 85% 14%
All Wheat 25% 17%
Corn planting intentions of 90.414 million acres would be 1.8 million over 2022. Using USDA’s AgForum percent harvested and trend yield estimates production of 14.986 billion would be 1.3 billion bushels over 2022. This would be the third largest production on record.
Soybean planting intentions are seen at 87.768 million acres, 0.3 million over last year. This would be the third highest planting ever. Using USDA’s AgForum percent harvested and trend yield estimates production of 4.522 billion bushels would be a record and 246 million over last year.
Wheat acreage is estimated at 48.706 million acres, 3.0 million over last year. This is the best all-wheat acreage in seven years. Using USDA’s AgForum percent harvested and trend yield estimates production of 1.855 billion is 205 million over last year.
This material has been prepared by a sales or trading employee or agent of Allendale Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Allendale Inc.’s Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions. DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION. The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Allendale Inc. believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades
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