During the USDA’s 2025 Ag Outlook Forum, the Department of Agriculture shared baseline acreage estimates, forecasting an increase in corn and wheat plantings while predicting a decrease in soybeans.
USDA projects corn acreage to reach 94 million, an increase of over 3 million from 2024. With a trend line yield of 181 bushels per acre, corn production is estimated at a record 15.5 billion bushels for the upcoming season. This rise is attributed to favorable prices compared to competing crops, although the season-average price for corn is expected to be $4.20 per bushel, down 15 cents from last year.
Projected soybean plantings for 2025 are anticipated to be 84 million acres, a decline of 3 million from 2024. With a trend line yield of 52.5 bushels per acre, production is estimated at 4.37 billion bushels. The decrease reflects lower soybean prices due to large supplies in South America, with the season-average price projected at $10 per bushel, down 10 cents from the previous marketing year.
Wheat acreage is expected to increase by 2 million acres to 47 million, reflecting a rise in winter wheat plantings, with the season-average price set at $5.50 per bushel, slightly lower than last year.
USDA Chief Economist Seth Meyer expressed concerns about tight margins for grain and oilseed farmers this year, noting a trend that has recurred over the past 20 years. While representatives from the Economic Research Service highlighted a projected increase in farm income for 2025, Meyer emphasized that this figure encompasses all income sources from a mix of grain and livestock operations.
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