USDA Releases Acreage and Grain Stocks Reports

USDA Releases Acreage and Grain Stocks Reports

In the latest round of USDA reports, The National Ag Statistics Service shows a record estimated number of soybean acres planted in the U.S., if the data holds true. USDA released the June Acreage and Grain Stocks Reports as of June first on Tuesday. NASS estimates 85.1 million acres of soybeans planted in the United States for 2015, up two percent from last year and setting a new record high. But a wet May and June in key growing states could lead to revisions in the report later this year. NASS reported growers planted an estimated 88.9 million acres to corn, the lowest corn acreage in the United States in the last half a decade. NASS surveyed approximately 11,000 segments of land and more than 70,000 producers during the first two weeks of June. Find the complete report online at http://www.nass.usda.gov/

Key findings released in the Acreage report include:

Soybeans

Soybean area for harvest is forecast at a record high 84.4 million acres, if realized, up nearly 1.4 million acres from 2014. Record high planted acreage is estimated in Kentucky, Minnesota, Ohio, Pennsylvania, and Wisconsin. Ninety-four percent of all planted acres of soybeans in the United States are herbicide resistant varieties, unchanged from last year.

Corn

This year’s planted acreage is at the same level or down across most of the Corn Belt, with the exception of Wisconsin, which saw an increase of nearly 3 percent from 2014. Growers expect to harvest 81.1 million acres of corn for grain, down 2 percent from last year. Ninety-two percent of all corn acres planted in the United States are biotech varieties, down from 93 percent in 2014.

All Cotton

All cotton planted area for 2015 is estimated at 9.0 million acres, down 18 percent from year. This is the lowest cotton acreage in the United States since 1983. Upland cotton is estimated at 8.85 million acres, down 18 percent from 2014.Ninety-four percent of upland cotton planted acres are biotech varieties in the United States, down from 96 percent in 2014.

Grain Stocks Report:

Soybeans stored totaled 625 million bushels, up 54 percent from June 1, 2014. On-farm soybean stocks were up 126 percent from a year ago, while off-farm stocks were up 28 percent.

Corn stocks totaled 4.45 billion bushels, up 15 percent from the same time last year. On-farm corn stocks were up 22 percent from a year ago, and off-farm stocks were up 9 percent.

All wheat stored totaled 753 million bushels, up 28 percent from a year ago. On-farm all wheat stocks were up 60 percent from last year, while off-farm stocks were up 21 percent.

Durum wheat stored totaled 25.9 million bushels, up 20 percent from June 1, 2014. On-farm Durum wheat stocks were down 20 percent, while the off-farm stocks were up 79 percent from the previous year.

NASS to Resurvey Growers for Acres Planted in Several States

While releasing the June 30th Acreage and Grain Stocks Reports on Tuesday, USDA’s National Agriculture Statistics Service also announced it will resurvey producers in several states to better gauge acres planted. NASS will collect updated information on 2015 acres planted to cotton, sorghum, and soybeans in four states. At the time of the survey, weather had prevented planting leaving a portion of acres to be planted for cotton in Texas; sorghum in Kansas; and soybeans in Arkansas, Kansas, and Missouri. NASS will publish updated estimates in the Crop Production report that will be released in August.

Find the complete report online at http://www.nass.usda.gov/

Source;  NAFB News