LANSING, Mich. (Michigan News Source) – Michigan’s increased corn and decreased soybean production has matched national trends in the past year according to new data from the Michigan Farm Bureau.
Key findings from a survey of more than 9,000 segments of land and more than 62,000 farmers in June found that Michigan corn acreage increased by 50,000 acres reaching 2.4 million acres of harvested acres of corn. From a national perspective, corn planted for all purposes in 2023 is estimated at roughly 94 million acres, a 6% increase from the previous year.
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This increase marks the third-highest planted corn acreage in the country since 1944 according to the Michigan Farm Bureau (MFB).
National Corn Growers Association (NCGA) Lead Economist Krista Swanson shared the effects of the increased production on the market.
“Plugging in an additional 2.2 million harvested acres means the corn balance sheet can face a 4.7 bushel-per-acre decline in yield from the initial 181.5 bushel-per-acre yield projection and maintain the same 15.3-billion-bushel production level,” Swanson added, “This would translate to a 176.8 bushel per acre national yield. Essentially, the higher acreage has reset the supply side of the corn balance sheet.”
While King Corn has increased in the state, soybean planting in Michigan fell to nearly 2 million acres, a 200,000 acre decrease from last year.
“I’m not surprised as much by the increase in corn acres as I am by the big decline in soybean acres,” MFB industry relations specialist Theresa Sisung said. “Fertilizer prices starting to decline and corn prices remaining strong throughout the spring while soybean prices fell was a major driver in the corn acreage change.”
From last June, the total amount of stored soybeans dropped 18%, down to 796 million bushels, while on-farm soybean stocks were down 3% and 26% off-farm stocks in the same time frame.
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Michigan ranks just outside of the top 10 states for U.S. corn production, coming in at number 12 behind North Dakota. Iowa produces roughly 2.5 bushels of corn annually, contributing roughly 15% of the total U.S. corn production.
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