USDA: US planted soybean acreage up 1%

U.S. farmers have planted an estimated 88.3 million acres of soybeans in 2022, up 1 percent when compared to last year, according to the USDA National Agricultural Statistics Service’s Acreage report, released June 30.

According to the USDA, U.S. growers are expected to harvest 87.5. million acres of soybeans in 2022, up 1 percent when compared to last year. The agency reported that producers planted 95 percent of the soybean acreage using herbicide resistant seed varieties, unchanged from 2021.

NASS also released its quarterly Grain Stocks report on June 30, reporting that soybean stocks are estimated at 971 million bushels, up 26 percent when compared to the same time last year. On-farm stocks are up 51 percent, while off-farm stocks are up 17 percent.