U.S. Soybean Acreage Hits Record in 2016
On June 30, the U.S. Department of Agriculture’s (USDA’s) National Agricultural Statistics Service (NASS) announce that U.S soybean acreage will reach 83.7 million acres in 2016 – increasing 1% over 2015 acreage and marking a new record, according to the latest Acreage report.
After surveying 70,500 growers during the first two weeks of June, the USDA found that of the 31 key soybean producing states, 18 states will see an increase in acreage this year, with Kansas, Minnesota and Missouri seeing the largest increases – all planting at least 200,000 acres more this year than last.
Biotechnology is still at the forefront of growers’ planting decisions with 93% of U.S. acreage planted in biotech seed varieties and 94% planted with herbicide resistant varieties.
Currently there are 870 million bushels of soybeans being stored in the U.S. – an year on year increase of 39%.