(Indianapolis) – June 23, 2023 – Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest U.S. Department of Agriculture National Agricultural Statistics Service (NASS) acreage report released earlier this afternoon.
“Planted corn acres in Indiana are up 5% from 2022 and soybean acres are down 6%,” said Dr. Davis. “Most soybean producing states decreased in planted acres this year, but demand has been strong. Reducing the planted area will make soybean stocks even smaller.”
According to Dr. Davis, 70% of planted corn acres and 63% of planted soybean acres in the country are currently experiencing drought conditions.
“A major factor to keep in mind as we consider the number of planted acres is the effect this current drought will have when it comes time for harvest,” added Dr. Davis. “The weather will really impact yield in the next few weeks, but we’re starting to get a slightly clearer focus on 2023 production.”
Read Dr. Davis’s full insights here.
The acreage report is released annually and presents acreage by planted or harvested areas by state. The estimates of planted and harvested acreages are based primarily on surveys conducted during the first two weeks of June. For more information about the report process and data, visit the USDA’s publications page.
About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.