Farmers Expected To Plant More Soybeans And Less Corn In 2026

The USDA “Prospective Plantings Report” that was released on March 31st projected a 3.4 percent decrease in 2026 U.S. corn acreage compared to a year ago, along with a 4.3 percent increase in 2026 soybean acreage from a year earlier. The USDA planting intentions numbers came in slightly higher than the grain trade expected for corn acreage and slightly lower than trade estimates for soybean acreage. The USDA “Quarterly Grain Stocks Report” was also released on March 31st, which lists the estimated U.S. grain inventory as of March 1, 2026, for both “on-farm” and commercial grain storage. The USDA estimates for U.S. corn and soybean inventories came in near the average stocks estimates of the grain traders. 
The USDA prospective planting acreage is based on survey data collected from about 73,800 surveys sent to crop producers in early March. Total U.S. crop acreage was listed at 223.8 million acres expected to be planted to corn, soybeans, and wheat in 2026, which down from 225.3 million acres in 2025, but is similar to total 2024 crop acreage. The USDA estimates for intended 2026 U.S. corn and soybean acreage was viewed as mainly “nuetral” for “new crop” corn and soybean futures prices on the Chicago Board of Trade (CBOT). After the USDA planting intentions report was released on March 31, December 2026 both CBOT December corn and November soybean futures closed up slightly. 
Typically, these late March USDA Reports are very critical to farm operators and grain traders due to their impact on grain market prices in the Spring and early Summer months. During these months, many farm operators usually sell any remaining grain inventories from the previous growing season, as well as look for opportunities to forward price a portion of the anticipated crop for the current year. In a majority of years, corn and soybean prices usually reach their “peak-price” during the period from April until June, which is why these reports are so important. 
Highlights from the March 31st USDA Planting Intentions Report: 
CORN - The planting intentions report indicated that just over 95.3 million acres of corn are expected to be  planted in the U.S. in 2026, which is a decrease of 3.5 million acres from the 2025 corn acreage of  98.8 million acres. The 2026 U.S. corn acreage would still be above the 2024 corn acreage of 90.9 million acres and the 2023 acreage of 94.6 million acres. The 2025 U.S. corn acreage was the highest in nine decades. The current USDA corn acreage estimate was about 967,000 acres above the grain trade estimates. Based on the USDA report, 2026 planted corn acreage is likely to decrease in most of the major corn production States. Following is the estimated 2026 corn acreage and the expected decrease from 2025: Iowa at 13.1 million acres (-3%); Illinois at 10.9 million acres (-3%); Nebraska 
at 10.3 million acres (-4%); Minnesota at 8.6 million acres (-3%); South Dakota at 6.3 million acres  (-8%); North Dakota at 4.4 million acres (-6%); Missouri at 3.65 million acres (-4%); and Wisconsin at 3.7 million acres (-11%). Indiana at 5.4 million acres and Ohio at 3.4 million acres expected in 2026 were the same as the final 2025 corn acreage. Kansas at 7.1 million acres was the only major corn producing State with an expected increase in 2026 corn acres (+4%). 
SOYBEANS - Based on the estimates in the March 31st Planting Intentions Report, U.S. soybean acreage in 2026 is projected at 84.7 million acres, which represents an increase of 3.5 million acres from a year ago. The 2026 U.S. soybean acreage estimate compares to 81.2 million acres in 2025, 87.2 million acres in 2024, 83.6 million acres in 2023, 87.4 million, acres in 2022, and the record 90.2 million acres in 2017. The highest increase in the estimated 2026 soybean acreage compared to 2025 was in South Dakota with an expected increase of 500,000 acres, followed by Iowa with an increase of 450,000 acres, and Nebraska with an increase of 350,000 acres, along with increases of 300,000 acres in Kansas, 200,000 acres in Illinois, 170,000 acres in Wisconsin, 150,000 acres in Minnesota and North Dakota, and 50,000 acres in Indiana. Ohio and Missouri were the only major producing States to show a slight decrease in anticipated soybean acreage for 2026 (-100,000 acres each). 
WHEAT- The intended U.S. wheat acreage for 2026 is estimated at 43.8 million acres, down 3 percent from 45.3 million acres in 2025, 46.1 million acres in 2024 and 49.6 million acres in 2023. Spring wheat acreage for 2026 was estimated at about 9.4 million acres, which is down 6 percent from nearly 10 million acres a year ago. 2026 Spring wheat acres are expected to decrease by 10 percent in Minnesota, 8 percent in North Dakota, and 4 percent in South Dakota, compared to 2025 acreage. 
Highlights from the March 31st USDA Grain Stocks Report: 
CORN - The total U.S. corn stocks on March 1, 2026, were listed at just over 9.02 billion bushels, which is an increase of 9.7 percent from a year earlier, and was slightly below the average grain trade estimate. The report indicated that farmers were holding 5.43 bushels of corn inventory in on-farm storage, which represents about 61 percent of the total corn stocks, and is up 21 percent from a year ago. One positive in the USDA grain stocks report was that the implied corn usage from December, 2025 through February, 2026 was 4.28 billion bushels, which was up about 8.4 percent compared to the same quarter a year ago. The improved corn usage numbers are a reflection of strong corn demand for ethanol production and solid corn export levels. The overall corn stocks level remains relatively high, which may limit potential for significant price rallies for the 2025 unpriced corn that is still in storage. 
SOYBEANS - Soybean stocks on March 1, 2026, were listed at just over 2.10 billion bushels, which is up 9.2 percent from a year ago, and was comparable to the pre-report estimates by grain trade analysts. Just over 1.2 billion bushels, or 58 percent of the total soybean stocks, were held in on-farm storage. The total U.S. soybean usage from December, 2025 through February, 2026 was estimated at 1.18 billion bushels, which was nearly the same as a year earlier. Soybean usage  numbers have been bolstered by improved soybean crush numbers; however, that has been offset by lower levels of soybean exports. There has been more optimism in the soybean export market in recent months, which has resulted in some improvement in the soybean prices in recent weeks. 
WHEAT- Total wheat stocks on March 1, 2026, were listed at about 1.3 billion bushels, which is up approximately 4.9 percent from March 1, 2025. This was the third year in a row that the level of wheat stocks have shown an increase on a year-over-year basis. The implied U.S. wheat usage in the past quarter was 4.28 million bushels, which was up about 10.4 percent from the same quarter a year ago. The stronger wheat usage numbers, together with the anticipated lower wheat acreage in 2026, has created some optimism for improved wheat prices in the coming months. 
Corn market prices on the Chicago Board of Trade (CBOT) did not show much movement in either direction following the release of the USDA reports. Nearby CBOT corn futures closed at $4.58 per bushel on March 31, which compares to $4.57 per bushel in 2025, $4.42 per bushel in 2024 and $6.60 per bushel in 2023. New crop CBOT December corn futures on March 31 closed at $4.82 per bushel, compared to $4.42 per bushel in 2025, $4.76 per bushel in 2024 and $5.66 per bushel in 2023. Nearby CBOT soybean futures closed at $11.71 per bushel following the USDA report on March 31, compared to $10.15 per bushel in 2025, $11.91 per bushel in 2024 and $15.05 per bushel in 2023. New crop CBOT November futures closed at $11.57 per bushel on March 31, compared to $10.19 per bushel in 2025, $11.86 per bushel in 2024 and $13.20 per bushel in 2023. 
The March 31st USDA report was based on producer surveys of planting intentions in early March; however, there is potential for these planting expectations to be adjusted slightly when final crop planting numbers are released later this year. The war in Iran began at the end of February, and most of the impacts on fertilizer supplies and prices have taken place since the survey data was collected. These impacts may cause some changes in final crop acres in some portions of the U.S. In the 2025 Planting Intentions Report, USDA estimated total corn acreage at 95.3 million acres on March 31; however, the final 2025 corn acreage was 98.8 million acres, or an increase of 3.5 million acres. 
For additional information contact Kent Thiesse, Farm Management Analyst, Green Solutions Group Phone --- (507) 381-7960; E-mail --- [email protected]