Releasing the 2022 U.S. Plantings Report

FBN Network

Mar 28, 2022

What U.S. Farmers are planting is always a significant driver of agricultural markets. And with current global volatility, planting intentions for 2022 are likely to be more closely followed than usual. The FBN® Plantings Report provides one of the first major survey-based estimates of U.S. farmers’ planting intentions for the year.

During March 2022, an electronic survey was distributed to U.S. FBN members. The survey collected the respondent’s zip code as well as planted acreage for key crops for the year 2021 and what they intend to plant in 2022.

Survey responses accounted for over 4.2 million acres covering 10 principal crops across 40 states. Any survey data that was incomplete or inconsistent was removed.

There were several goals of the survey but most importantly, we want to deliver on the FBN promise of putting farmers first.

That means enriching all the survey responses with analytics and data science to return insights back to our Members, helping them make knowledgeable decisions that drive an ROI focused business.

We remove all personal and operational related details from survey responses. And the resulting data is maintained as confidential and exclusive to FBN.

Farmer summary

The report was bullish on the corn crop. It projects that U.S. corn acreage will be at 91.1 million acres, a 2.3 million acre decline from last year.

North Dakota is expected to see the biggest dip in corn acres among states. If FBN's projection is accurate, this lower amount of corn production could further push corn prices higher. 

"The potential loss of Ukraine as a major corn exporter opens the door for a record setting US corn export program," Chief Economist, Kevin McNew writes. 

FBN's report is neutral on soybeans, with acreage pegged at 89 million acres for 2022, up 1.8 million from the year before. Illinois, Indiana, Iowa, and North Dakota all are expected to see expanded soybean acres, while Minnesota should see a decline.

Industry expectations are for 88.9 million of soybean acres to be planted, closely aligned with FBN projections. 

"Brazil crop losses will give US soy a competitive advantage for trade heading into the 2022 crop year, while new and expanded US soy crush facilities will help feed the renewable diesel demand curve and keep soy crush disappearance reaching new highs," the report notes.

The report has a bullish outlook on spring wheat. Although spring wheat prices are high, fertilizer cost inflation and competing strong prices for barley, pulses, and soybeans likely will push farmers in the Northern Plains to cut back on spring wheat acres – with FBN expecting a drop off of 200,000 acres, to 11.2 million projected in 2022.

Given that industry analysts are projecting higher acreage (11.8 million), if FBN's report proves correct, that could help push wheat prices above recent highs.

Get the free report

If you'd like to read the full report, get your free copy today.


FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695

Disclaimer: The views and opinions are solely those of the author as of the date of publication, are subject to change at any time due to market or economic conditions, will not be updated or supplemented after the date hereof and may not necessarily come to pass. The views and opinions expressed herein do not reflect those of all personnel at FBN BR LLC (FBN) or the views of the Farmer's Business Network Inc. as a whole. FBN makes no representations, warranties, or guarantees as to this content.

Any charts and graphs provided are for illustrative purposes only. Any performance quoted represents past performance. Past performance does not guarantee future results. All investments involve risks, including the possible loss of principal.

Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for everyone. Past performance is not necessarily indicative of future results. All information, publications, and reports, including this specific material, used and distributed by FBN BR LLC shall be construed as a solicitation. The information and data provided comes from sources believed to be reliable but FBN BR LLC does not guarantee its accuracy or completeness.

Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "Farmers Business Network," "FBN," and "Farmers First" are registered trademarks of Farmer's Business Network, Inc. All other trademarks are the property of their respective owners.

FBN Network

Mar 28, 2022