USDA’s NASS Releases Prospective Plantings and Quarterly Grain Stocks Reports

The U.S. Department of Agriculture’s National Agricultural Statistics Service released its Prospective Plantings report yesterday (Monday). NASS surveyed more than 84,000 farmers this year to compile this report. The report shows planted acreage intentions for soybeans has increased to 81.5-million acres - an six-percent increase from last year and an all-time record high. As for corn - producers intend to plant 91.7-million acres - which is a four-percent decrease from last year and will be the lowest planted acreage since 2010 - if realized. The quarterly Grain Stocks report also was released and shows estimates of on-farm and off-farm stocks as of March 1st. A total of 992-million bushels of soybeans are stored. On-farm soybean stocks are down 16-percent from last year and off-farm stocks are up 13-percent. As for corn - stocks total 7.01-billion bushels. On-farm corn stocks are up 45-percent from last year and off-farm stocks are up 15-percent. All wheat stored totals 1.06-billion bushels. On-farm all wheat stocks are up slightly from last year and off-farm stocks are down 18-percent. Durum wheat stored totals 38.1-million bushels. On-farm and off-farm stocks of Durum wheat are down from last year. To view the full report - visit NASS dot USDA dot gov (www.nass.usda.gov).

Source:  NAFB News