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AgMarket.net estimating record U.S. corn and soybean acreage

The co-founder of AgMarket.net says U.S. farmers are likely preparing to plant a record number of corn and soybean acres.

Ahead of next week’s USDA Prospective Plantings Report, Matt Bennett says the company estimates farmers will plant 94.4 million acres of corn and 86.1 million acres of soybeans in 2026.

“The combined total there, if we would have that many acres of both corn and beans, we’re going to have a record.”  He says, “Part of that is less cotton and rice acres and a few less wheat acres.”

He tells Brownfield the combination of stronger soybean prices, the natural corn-to-soybean rotation and input costs to plant corn this year, all point to an increase in soybean acres.

“This whole situation in Iran is definitely throwing a monkey wrench at anybody wanting to do spring fertilizer.”  He says, “Urea prices have skyrocketed. We felt like maybe that’s not all even going to be baked into that report.”

Bennett says recent rallies have provided opportunities for farmers, but the acreage estimates could also spark additional market volatility.

“If you would get something north of 95 million acres, I think that would be viewed as something that would be a headwind.”  He says, “If you get outside of the range of guesses, that’s when you see a pretty volatile type move.”

The USDA releases the 2026 Prospective Plantings Report on Tuesday, March 31^st, at noon Eastern/11am Central.

AUDIO: Matt Bennett – AgMarket.net