Economic Tidbits

Nebraska Planted Acrage Lower

The USDA June 30 crop acreage report surprised many in agriculture with a lower estimate of planted corn acres than expected. The reduced planted acreage sparked a rally in an otherwise dreary corn market. Unfortunately, the rally was short-lived as good growing conditions pushed prices lower again last week.

Nationally, the USDA estimated producers planted 92 million acres of corn, 3 percent above the acres planted last year, but almost 5 million acres below the March planting intentions report. The USDA also estimated 83.8 million acres of soybeans were planted, up 10 percent from last year.

Total crop acres planted in Nebraska were estimated at 19.05 million acres, down 125,000 acres from last year, and down roughly 700,000 acres compared to 2018. Nebraska farmers planted 9.8 million acres of corn, down 300,000 acres compared to last year, and off 700,000 acres from the March planting intentions report. Nebraska producers planted 5.0 million acres of soybeans, up 100,000 acres from a year ago but less than the planting intentions report. Acres planted to alfalfa, oats, sugar beets, dry edible beans, and sunflowers acres in the state were higher compared to last year. Acres planted to sorghum, down 30,000 acres, and proso millet were lower. Acres planted to potatoes were unchanged.

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