Stay Informed

Contact:
Heidi Gant
(O) 317-692-7828
(C) 317-966-3719
HGant@infb.org

(Indianapolis) – March 28, 2024 – Indiana Farm Bureau’s Chief Economist Todd Davis is offering his insights on the latest National Agricultural Statistics Service (NASS) report released earlier this afternoon on the prospective planting figures.

According to Dr. Davis, Indiana and U.S. farmers intend to plant less corn and more soybean acres this year compared to 2023. Indiana farmers specifically are predicted to plant 6.4% less corn and 4.5% more soybeans during the 2024 planting season.

“These reports are really about managing expectations, and the market moves when it’s a surprise,” said Dr. Davis. “The only real surprise this time around was that corn acres decreased by 2 million acres more than expected. However, keep in mind that planters aren’t rolling yet. These numbers reflect what farmers were thinking during early March.”

Dr. Davis added that the U.S. Department of Agriculture’s (USDA) acreage report released in June will provide a much clearer picture on how accurate these predictions actually were.

Read Dr. Davis’s full insights here.

For more information about the report process and data, visit the USDA’s publications page.

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About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.