Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.

usda
usda
(USDA)

Prospective Plantings Report

Corn – million acres

USDA

90.036

Average est.

91.776

Pro Farmer/Doane survey

91.750

USDA final 2023

94.641

Soybeans – million acres

USDA

86.510

Average est.

86.530

Pro Farmer/Doane survey

86.750

USDA final 2023

83.600

All wheat – million acres

USDA

47.498

Average est.

47.330

Pro Farmer/Doane survey

47.100

USDA final 2023

49.575

Winter wheat – million acres

USDA

34.135

Average est.

34.870

Pro Farmer/Doane survey

34.425

USDA final 2023

39.699

Other spring wheat – million acres

USDA

11.335

Average est.

10.891

Pro Farmer/Doane survey

10.900

USDA final 2023

11.200

Durum wheat – million acres

USDA

2.028

Average est.

1.652

Pro Farmer/Doane survey

1.775

USDA final 2023

1.676

Cotton – million acres

USDA

10.673

Average est.

10.906

Pro Farmer/Doane survey

10.500

USDA final 2023

10.230

Quarterly Grain Stocks Report

Corn – billion bu.

USDA March 1, 2024

8.347

Average est.

8.427

USDA March 1, 2023

7.396

USDA Dec. 1, 2023

12.169

Soybeans – billion bu.

USDA March 1, 2024

1.845

Average est.

1.829

USDA March 1, 2023

1.687

USDA Dec. 1, 2023

3.000

Wheat – billion bu.

USDA March 1, 2024

1.087

Average est.

1.044

USDA March 1, 2023

0.941

USDA Dec. 1, 2023

1.410