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Survey projects more corn, less soybeans planted in 2022

Ahead of the USDA Acreage report on June 30, Kluis Commodity Advisors and Successful Farming teamed up to conduct our own survey. Nearly 600 farms from across the Corn Belt participated. Based on the results, below are our projections for the acres planted to corn, soybeans, and wheat in 2022.

Corn Acres

Our survey results project 91 million acres of corn. This is about 1.5 million acres more corn than the March 31 USDA Prospective Planting report and about 1.2 million acres above the average trade estimate.

Soybean Acres

Our survey results project 89.5 million acres of soybeans. This is about 1.5 million acres less soybeans than the March 31 USDA Prospective Planting report and about 1 million acres below the average trade estimate.

Wheat Acres

Our survey results project 47.8 million acres of wheat. This is about 500,000 acres more wheat than the March 31 USDA Prospective Planting report and about 800,000 acres above the average trade estimate.

If our numbers are correct, the USDA Acreage report being released this Thursday is likely to be slightly negative for corn and wheat prices and bullish for soybeans.

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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.

Editor’s Note: The risk of loss in trading futures and/or options is substantial, and each investor and/or trader must consider whether this is a suitable investment. Past performance – whether actual or indicated by simulated historical tests of strategies – is not indicative of future results. Trading advice reflects good-faith judgment at a specific time and is subject to change without notice. There is no guarantee the advice given will result in profitable trades.

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