USDA: US farmers to plant record soybean acreage in 2022

U.S. farmers are expected to plant a record 91 million acres of soybeans in 2022, up 4 percent when compared to 2021, according to the USDA National Agricultural Statistic Service’s Prospective Plantings report, released March 31.

The USDA reports that planted acreage intentions for soybeans are up or unchanged in 24 of the 29 estimating states. The largest increases are expected in Illinois and Missouri, where producers in each state expect to plant 400,000 more acres than in 2021. If realized, the planted acreage of soybeans in Illinois, Kentucky, Michigan, Missouri, Nebraska, Ohio, South Dakota and Wisconsin will be the largest on record.

The USDA also released its latest quarterly Grain Stocks report on March 31. As of March 1, total soybeans stored was at 1.93 billion bushels, up 24 percent when compared to March 1, 2021. On-farm soybean stocks were up 26 percent, while off-farm stocks were up 22 percent.