In the March 2014 Prospective Plantings Report, USDA estimates corn planted area at 91.7 million acres, down 4% from last year and 6% from 2012. Soybean planted area for 2014 is estimated at a record high 81.5 million acres, up 6% from last year, according to the report.

Corn

If realized, this will represent the lowest planted corn acreage in the United States since 2010; however, it could be the fifth largest corn acreage in the United States since 1944. Colorado, Idaho, Iowa, Kansas, Maine, Massachusetts, and Utah are expected to increase planted acreage from last year. If realized, planted acres in Idaho would be a record high.

Expected returns for corn are anticipated to be lower in 2014 compared with recent years.