Corn planted acres climbed from March intentions, but by around 1.1 million acres less than analysts surveyed by Reuters anticipated. Corn planted acres are now estimated up 2% from 2020, while soybean planted acreage climbed 5% from last year.
All wheat planted acres topped expectations, with acreage now forecast up 5% from last year. The rise was driven by higher winter wheat seedings, as spring wheat and durum acreage are both estimated down from 2020. This represents the fourth lowest all wheat planted area on records dating back to 1919.
Cotton planted acres dropped a bit more from planting intentions than the market anticipated, with cotton acres now pegged 3% under the 2020 season.
Of note, USDA reports there were around 2.18 million corn acres and 9.84 million soybean acres left to be planted when the survey was conducted May 29 through June 17,
USDA’s June 1 stocks estimates came in on the friendly side of expectations for corn, soybeans and wheat, though none of the numbers were particularly shocking. Revisions to March 1 stocks were also modest.
The following expectations are based on survey work by Reuters.
Acreage Report | |
Corn – million acres | |
USDA | 92.692 |
Average est. | 93.787 |
Pro Farmer/Doane survey | 93.600 |
USDA March forecast | 91.144 |
USDA final 2020 | 90.819 |
| |
Soybeans – million acres | |
USDA | 87.555 |
Average est. | 88.955 |
Pro Farmer/Doane survey | 88.700 |
USDA March forecast | 87.600 |
USDA final 2020 | 83.084 |
| |
All wheat – million acres | |
USDA | 46.743 |
Average est. | 45.940 |
Pro Farmer/Doane survey | 46.000 |
USDA March forecast | 46.358 |
USDA final 2020 | 44.349 |
| |
Winter wheat – million acres | |
USDA | 33.683 |
Average est. | 33.028 |
Pro Farmer/Doane survey | 33.100 |
USDA March forecast | 33.078 |
USDA final 2020 | 30.415 |
| |
Other spring wheat – million acres | |
USDA | 11.580 |
Average est. | 11.408 |
Pro Farmer/Doane survey | 11.300 |
USDA March forecast | 11.740 |
USDA final 2020 | 12.250 |
| |
Durum wheat – million acres | |
USDA | 1.480 |
Average est. | 1.513 |
Pro Farmer/Doane survey | 1.600 |
USDA March forecast | 1.540 |
USDA final 2020 | 1.684 |
| |
Cotton – million acres | |
USDA | 11.719 |
Average est. | 11.856 |
Pro Farmer/Doane survey | 11.900 |
USDA March forecast | 12.036 |
USDA final 2020 | 12.093 |
|
|
Quarterly Grain Stocks Report | |
Corn – billion bu. | |
USDA June 1, 2021 | 4.112 |
Average est. for June 1, 2021 | 4.144 |
USDA March 1, 2021 | 7.696 |
USDA June 1, 2020 | 5.003 |
| |
Soybeans – billion bu. | |
USDA June 1, 2021 | 0.767 |
Average est. for June 1, 2021 | 0.787 |
USDA March 1, 2021 | 1.562 |
USDA June 1, 2020 | 1.381 |
| |
Wheat – billion bu. | |
USDA June 1, 2021 | 0.844 |
Average est. for June 1, 2021 | 0.859 |
USDA March 1, 2021 | 1.311 |
USDA June 1, 2020 | 1.028 |
| |