Content ID

328855

How many acres of corn, soybeans, and wheat did U.S. farmers plant in 2022?

Ahead of the USDA Acreage Report on June 30, Kluis Commodity Advisors and Successful Farming are teaming up to conduct their own survey.

Would you like to gain some insight and trade recommendations ahead of the Acreage Report being released by the USDA on June 30? 

Prior to this report, Kluis Commodity Advisors and Successful Farming are teaming up to conduct their own planted acreage survey. Your information will be kept confidential and only the farmers who participate in our survey will get the results as well as any trade recommendations Kluis Commodity Advisors has before the USDA releases its Acreage Report on June 30. 

You can complete our survey by clicking here. The deadline to complete the survey is Friday, June 17.   

Once the survey is closed, Kluis Commodity Advisors will assemble the data. Participants will be emailed the results as well as any potential trade recommendations by June 28.

The Significance of USDA Reports

I have been at conferences where other speakers or farmers will criticize the USDA and its reports. I am not always popular when I tell them that they should not criticize the USDA for their own bad marketing decisions. I respect the USDA and admire its long-term track record. 

First the basics. The USDA has two major divisions that put out different crop reports. The first is the National Ag Statistics Service (NASS). Think of bean counters. They measure crops and weigh ears of corn. They also count bean pods when they do yield surveys.  

This agency also does the quarterly Grain Stocks report where they detail how much grain is on hand and who is holding the grain – farmers or elevators. The USDA will be surveying farmers about how many acres they actually planted to corn, soybeans, wheat as well as nine other major crops. They will then release the Acreage report on Thursday June 30, 2022. More on that later.

The other USDA agency is the World Ag Outlook Board (WAOB). This agency takes information from NASS and uses it to put out monthly Supply/Demand reports that project U.S. and global crop production, usage, and ending stocks. It has a lot of historic data and some brilliant number crunchers. No one in the world has the depth of data the USDA has. The agency isn’t always right, but it has the best long-term track record of anyone, and this information is what the world grain traders use when making pricing decisions.  

This month there are two major USDA Report being released. First is the monthly World Agricultural Supply and Demand Estimates (WASDE) on June 10. This year it will be interesting to see if the USDA changes projected corn, soybean, and wheat exports. Will the USDA increase next year’s exports because of a reduced crop in Ukraine? Will global grain stocks continue lower?  

Two other key reports will be available on June 30. On this day, the USDA releases its quarterly Grain Stocks and Acreage Reports. June 30 is likely to be another volatile day in the grain markets. 

Because the Acreage Report is so important, it's also why we're asking you to take advantage of the opportunity to be a part of our planted acreage survey. You can complete our survey by clicking here. You have until Friday, June 17 to complete the survey.

Thank you, in advance, for your participation!

For a free trial of The Kluis Report including three times a day market updates and the Saturday newsletter, visit kluiscommodities.com, call 888-345-2855, or email info@kluiscommodityadvisors.com

About the Author: Al Kluis has been a commodity advisor and broker since 1976. Kluis is an introducing broker with Wedbush Futures and writes a column, Your Profit, which appears in every issue of Successful Farming magazine. Kluis has published two books on commodities trading and is commonly quoted in major publications including the Wall Street Journal. He is also a featured speaker at commodity conferences nationwide. Kluis is a frequent market analyst for the Linder Farm Radio News Network. A Minnesota farm boy, Kluis was awarded his degree in ag economics from the University of Minnesota in 1974, after which he was executive director of the Minnesota Soybean Association before entering the markets full-time. His family still farms in southwest Minnesota, and Kluis enjoys helping with fieldwork when the markets allow.

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