S&P Global forecasts fewer US corn plantings, more soy in 2026

CHICAGO, Sept 20 (Reuters): S&P Global Commodity Insights projected on Friday that US farmers would plant 94.5 million acres of corn next year, down 4.3 per cent from this year, and 84 million acres of soybeans, up 3.6 per cent, according to a report from the firm seen by Reuters.

Farmers are struggling to turn profits on both crops this year because supplies are ample and China, the world's biggest soybean importer, has not bought U.S. soy from the autumn harvest amid its tariff dispute with Washington.

Growers will plant their 2026 crops next spring, and S&P Global's report said there was more uncertainty than normal around its early estimates due to ongoing trade negotiations.

This spring, farmers planted more corn and fewer soybeans than they did in 2024, hoping to eke out a profit and shield themselves from U.S. President Donald Trump's threatened tariffs.

S&P Global could not immediately be reached for comment.

The firm estimated 2026 US all-wheat plantings at 44.6 million acres, down about 1.8 per cent from 2025, and 2026 cotton plantings at 10.3 million acres, up 10.8 per cent, according to the report.