Acreage, Stocks reports offer contrasting perspectives

USDA released Crop Acreage and Grain Stocks reports on June 28, based on surveys conducted during the first half of June. A cool, wet spring may have slowed the planting pace, but obviously didn't hamper the planted area. Both corn and soybean acreage estimated were up slightly from March “Prospective Plantings” estimates.

Corn planted area for all purposes in 2013 is estimated at 97.4 million acres, up slightly from last year, and the highest planted acreage in the United States since 1936. Growers expect to harvest 89.1 million acres for grain, up 2% from last year.  

Soybean planted area for 2013 is estimated at a record high 77.7 million acres, up 1% from last year. Planted area increased in 18 out of 31 soybean-producing states. Area for harvest, at 76.9 million acres, is up 1% from 2012 and will be a record high, if realized. 

 

The numbers aren’s so favorable when it comes to grain stocks.

Corn stocks in all positions on June 1 totaled 2.76 billion bushels, down 12% from a year earlier. Of the total stocks, 1.26 billion bushels are stored on farms, down 15% from a year earlier. Off-farm stocks, at 1.50 billion bushels, are down 10% from a year ago. The March-May 2013 indicated disappearance is 2.64 billion bushels, compared with 2.88 billion bushels during the same period last year. 

Soybeans stored in all positions on June 1 totaled 435 million bushels, down 35% from a year earlier. On-farm stocks totaled 171 million bushels, down 4% from a year ago. Off-farm stocks, at 263 million bushels, are down 46% from a year ago. Indicated disappearance for the March-May 2013 quarter totaled 564 million bushels, down 20% from the same period a year earlier. 

Hay acreage up slightly

USDA’s Crop Acreage report also provided an indication of the 2013 hay harvest. Total hay acreage is slightly higher than the March USDA “Prospective Plantings” report suggested.

U.S. hay producers intend to harvest 56.6 million acres of all hay in 2013, up slightly from 2012. Expected harvested area of alfalfa and alfalfa mixtures, at 17.7 million acres, is up 2% from 2012. Harvested area of alfalfa and alfalfa mixtures is expected to decline throughout much of the Great Plains and Rocky Mountains due to unfavorably hot, dry conditions throughout much of the spring and into summer. A significant reduction in expected acreage in Colorado.

Expected area for all other types of hay totals 39.0 million acres, down fractionally from 2012.  Acreage is expected to increase in states situated from the northern Rocky Mountains to the Great Lakes, as timely spring rainfall boosted hay field and pasture growth. Additionally, several states had a large amount of acreage come out of CRP.