The Prospective Plantings report for wheat is an essential annual indicator released by the USDA that estimates the acreage farmers intend to dedicate to all types of wheat, including winter, durum, and other spring wheat. As one of the most important global food staples, U.S. wheat planting intentions have a direct impact on international trade and food inflation expectations. The report is highly anticipated by the agricultural sector as it provides the first clear picture of the year's production potential.
The USDA conducts extensive surveys of farmers nationwide in early March to determine their planting plans. The results are aggregated to provide a national estimate of acreage by crop type and state.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Mar 28, 2024 | 47.50 | 47.33 | +0.17 |
| Mar 31, 2023 | 49.90 | 48.85 | +1.05 |
| Mar 31, 2022 | 47.35 | 47.77 | -0.42 |
| Mar 31, 2021 | 46.36 | 44.97 | +1.39 |
The latest reading is within its usual range, less than one standard deviation from the mean.
