According to the USDA’s latest Acreage report, United States farmers planted an estimated record high 84.8 million acres of soybeans in 2014, nearly equaling the 91.6 million acres of corn planted.
Soybean acreage is up 11% from a year ago, while corn is down 4%, representing the lowest planted acreage in the United States since 2010. This increase in soybean acreage was not unexpected heading into the 2014 planting season, as previous reports indicated producers were set to plant soybeans at an all-time high.
Grant Kimberley, a corn and soybean farmer near Maxwell in central Iowa and director of market development for the Iowa Soybean Association, said about the results of the report, "Corn might be king in the U.S., but soybeans are knocking on the palace door. The increase of soybeans has been dramatic the last couple of years here and I think the increased protein demand worldwide has a lot to do with that."
The record high soybean acreage for the United States can be largely attributed to a number of individual states reaching their highest-ever totals. Record highs were estimated in Michigan, Minnesota, Nebraska, New York, North Dakota, Ohio, Pennsylvania, South Dakota and Wisconsin.
As a result of the spike in soybean planting, the USDA’s report also indicates soybean area for harvest is estimated at a record high 84.1 million acres. If realized, this number would mark an 11% increase from 2013.
As expected prior to the planting season, United States farmers placed an emphasis on soybean planting in 2014, capitalizing on demand. While the U.S. maintains its reputation for corn production, this report shows soybeans’ presence is on the rise.