March 31, 2023
BY Erin Voegele
U.S. farmers intend to plant 92 million acres of corn this year, up 4 percent when compared to 2022, according to the USDA National Agricultural Statistics Service’s Prospective Plantings report, released March 31.
When compared to last year, planted corn acreage is expected to be up or unchanged in 40 or the 48 estimating states. The largest increase is expected for North Dakota, where producers expect to plant 800,000 more acres than last year. If realized, planted corn area in Arizona and Idaho will be the largest on record.
NASS also released its quarterly Grain Stocks report on March 31, reporting that corn stocks were at 7.4 million as of March 1, down 5 percent when compared to the same period of last year. On-farm stocks were up 1 percent, while off-farm stocks were down 10 percent.
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U.S. operatable biofuels capacity increased slightly in January, with gains for ethanol, according to the U.S. EIA’s Monthly Biofuels Capacity and Feedstock Update, released March 31. Feedstock consumption was down when compared to December.
U.S. farmers are expected to plant 83.5 million acres of soybeans in 2025, down 4% when compared to last year, according to the USDA National Agricultural Statistics Service’s annual Prospective Plantings report, released March 31.
ADM and Mitsubishi Corp. on March 27 announced the signing of a non-binding memorandum of understanding (MOU) to form a strategic alliance to explore potential areas of future collaboration across the agriculture value chain.
China’s exports of used cooking oil (UCO) reached a record high in 2024 but fell sharply in December after the Chinese government eliminated the 13% export tax rebate for UCO, according to a report filed with the USDA.
Ash Creek Renewables, a portfolio company of Tailwater Capital LLC, on March 20 announced it has secured exclusive licensing rights from Montana State University for a new high-performance camelina seed variety.