Technology and Farming Practices Expected to Outpace Lost Acres [Video]

On Nov. 7, the USDA released tables from the Agricultural Projections report for 2023–2034. The projections, according to the USDA, reflected a composite of model results and judgment-based analysis which were prepared August through October 2024. The figures were interesting, suggesting fewer corn acres with higher yield, and higher soybean acres and yield.

The old saying is: “They’re not making any more acres.” The implication — from a production perspective — is that it will take an increase in yield to keep adequate corn supplies available for consumers. The USDA tables indicated planted corn acreage at 94.9 million will eventually decline to 88 million; yield will increase from 173 bushels per acre (bpa) to 199 bpa; production will grow from 15.341 billion bushels to 16.060 billion; ending stocks will hover in the vicinity of 2.2 billion. 

For soybeans, the USDA tables indicated planted acres will gradually grow from 50.6 million …