National Corn Area Seen at New Record High

Tight supplies and rising prices for fertilizer are apparently not going to keep Canadian corn producers down. 

In its first acreage report for the 2022 growing season on Tuesday, Statistics Canada pegged new-crop national corn intentions at 3.71 million acres, up 6.4% from a year earlier and potentially a new record high, barely topping the 3.079 million acres planted in 2013. 

On the other hand, new-crop soybean area is seen little changed compared to 2021, up less than 1% to 5.35 million acres and far below the 2017 record of 7.28 million. 

In contrast to the situation here, US growers are expected to cut back on corn and add to soybean acres this year. In its March 31 prospective plantings report, the USDA estimated American corn intentions far below trade expectations at 89.5 million acres, down 4% from the previous year. Soybeans intentions came in at a record 91 million acres, up 4%. 

At least some of the expected decline in US corn area is being attributed to global supply chain woes and the war in Ukraine which have sent prices for most fertilizers skyrocketing – factors that impacting farmers in this country as well. 

In Ontario, where over 60% of all corn in Canada is grown, farmers anticipate planting 2.32 million acres, up 8.2% from 2021. If achieved, it would be a record area for the province, surpassing the previous record of 2.2 million acres set in 2012. Farmers in the province may be choosing to plant more corn this year because of record yields in 2021, coupled with good prices relative to other crops, StatsCan said. 

Quebec farmers expect to plant more corn for grain as well, edging up 0.9% to 893,400 acres in 2022. Manitoba corn planted area is seen rising 10.7% to 431,000 acres. 

As for soybeans, farmers in Ontario expect to plant 3.02 million acres this year, up 3.2% from 2021. In contrast, soybean areas in Manitoba (-0.9% to 1.3 million acres) and Quebec (-0.6% to 920,200 acres) are expected to edge down compared with a year earlier.