Report snapshot: Huge corn acres; soybean acres shy of pre-report estimates by 4 million

USDA reported over 94 million corn acres, which is over 2 million above pre-report estimates, while soybean acres were pegged at 83.505 million acres, over 4 million acres below the average pre-report estimate.

usda
usda
(USDA)

Acreage Report

Corn – million acres

USDA

94.096

Average est.

91.853

USDA March forecast

91.996

USDA final 2022

88.579

Soybeans – million acres

USDA

83.505

Average est.

87.673

USDA March forecast

87.505

USDA final 2022

87.450

All wheat – million acres

USDA

49.628

Average est.

49.656

USDA March forecast

49.855

USDA final 2022

45.738

Winter wheat – million acres

USDA

37.005

Average est.

37.312

USDA March forecast

37.505

USDA final 2022

33.271

Other spring wheat – million acres

USDA

11.140

Average est.

10.508

USDA March forecast

10.570

USDA final 2022

10.835

Durum wheat – million acres

USDA

1.483

Average est.

1.774

USDA March forecast

1.780

USDA final 2022

1.632

Cotton – million acres

USDA

11.087

Average est.

11.200

USDA March forecast

11.256

USDA final 2022

13.763

Quarterly Grain Stocks Report

Corn – billion bu.

USDA June 1, 2023

4.106

Average est.

4.255

USDA June 1, 2022

4.349

USDA March 1, 2023

7.401

Soybeans – billion bu.

USDA June 1, 2023

0.796

Average est.

0.812

USDA June 1, 2022

0.968

USDA March 1, 2023

1.685

Wheat – million bu.

USDA June 1, 2023

580

Average est.

611

USDA June 1, 2022

698

USDA March 1, 2023

946