USDA released the June acreage report and quarterly grain stocks today. The 2021 corn and soybean acre estimate was well below pre-report estimates. Stocks numbers were near pre-report estimates. Following are the corn and soybean numbers.
Corn planted area for all purposes in 2021 is estimated at 92.7 million acres, up 2 percent or 1.87 million acres from last year. Compared with last year, planted acreage is expected to be up or unchanged in 28 of the 48 estimating States. Area harvested for grain, at 84.5 million acres, is up 2 percent from last year. The 92.7 million acres is below pre-report trade estimates.
Soybean planted area for 2021 is estimated at 87.6 million acres, up 5 percent from last year. Compared with last year, planted acreage is up or unchanged in 28 of the 29 estimating States. The 2021 planted area estimate is well below the pre-report estimates.
Soybeans stored in all positions on June 1, 2021 totaled 767 million bushels, down 44 percent from June 1, 2020. On-farm stocks totaled 220 million bushels, down 65 percent from a year ago. Off-farm stocks, at 547 million bushels, are down 27 percent from a year ago. Indicated disappearance for the March - May 2021 quarter totaled 795 million bushels, down 9 percent from the same period a year earlier. The soybean stocks estimate is close to pre-report trade estimates.
For a link to the entire acreage report, please click here.
For a link to the quarterly grain stocks report, please click here.
For a review of the planted acres, stocks and the upcoming July 12 WASDE, register for the Iowa Farm Bureau webinar (July 13 at 1:00) with AgriVisor Analyst, Karl Setzer. To register and for more information, please click here.