SoybeansIn the first look at 2024-25 crops, USDA has projected 91 million acres of corn, 87.5 million acres of soybeans and 27 million acres of wheat this growing season. Total acreage for all three crops is down 1% to 225.5 million acres, likely due to lower commodity prices. USDA revealed the initial outlook at the agency’s annual Agricultural Outlook Forum, noting that interest rates could also be fueling lower acreage.

Meanwhile, trend-adjusted yield estimates for corn came in at 181 bushels per acre, 52 bushels per acre for soybeans and wheat came in at 49.5%.

Read more on USDA’s first crop outlook report of the year here.