HOUSTON (ICIS)–The US Department of Agriculture (USDA) said in its prospective plantings report that it expects that corn acreage will increase by 4%, which would be an additional 3.42m acres this spring season.
The report showed that corn planted area for all purposes in 2023 is estimated at 92m acres, which is a lift of 4%. Compared with last year, planted acreage is expected to be up or unchanged in 40 of the 48 estimating states.
Currently the fertilizer industry market estimate for the upcoming corn crop is between 92m-94m acres.
As a result ammonia and nitrogen demand expectations are strong with increased movement projected over the month of April if the weather turns more favourable, with some cold and wet lingering through March leading to a slow start in some areas.
For soybeans the report showed that planted area for 2023 is estimated at 87.5m acres, up slightly from last year. Compared with last year, planted acreage is up or unchanged in 15 of the 29 estimating states
All wheat planted area for 2023 is estimated at 49.9m acres, up 9% year-on-year with the 2023 winter wheat planted area at 37.5m acres, which is an increase of 13% tear-on-year.
Looking at cotton the USDA is estimating that all cotton planted area will be at 11.3m acres, down 18% from last year.