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WHEAT GROUPS: AS PROJECTED SOYBEAN ACREAGE SURGES, CAN WHEAT CO-EXIST?
Sep. 30, 2022
Source: U.S. Wheat Associates
A dramatic increase in demand for oilseeds could impact U.S. wheat production in coming years, with significantly more acres expected to be planted in soybeans destined for new and expanded crushing facilities.
Between 20 million and 25 million additional acres of soybeans will be needed to meet requirements of the renewable diesel industry, some analysts are predicting.
At the same time, global demand for wheat is also expected to rise, setting up dynamic competition for acreage in states where both crops are grown. For the U.S. wheat industry, the situation creates important questions: How much wheat acreage could potentially be lost to soybeans? Will lost acres impact the U.S.' standing as the world's most dependable wheat supplier? Can wheat and soybeans co-exist in a competitive environment?
Where possible, farmers may adapt and double-crop more wheat and soybeans to maintain supplies of both crops. It is already a common practice in top soybean states like Illinois, Indiana and Ohio, where soft red winter wheat is the dominant class. But in soybean states that produce hard red winter and hard red spring wheat - Kansas, Nebraska, South Dakota and North Dakota, for example - allotting acreage is more complicated due to average rainfall and shorter growing seasons.
The ultimate question is if U.S. farmers will be able to meet the demand for both wheat and soybeans by doing what they have always done - figure out a way to do more with less.
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