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USDA estimates 2021 corn and soybean plantings; March Grain Stocks

USDA estimates 2021 corn and soybean plantings; March Grain Stocks
Corn planted area for all purposes in 2021 is estimated at 91.1 million acres, up less than 1 percent or an increase of 325,000 acres from last year. Compared with last year, planted acreage is expected to be up or unchanged in 24 of the 48 estimating States.  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 23 of the 29 estimating States.   For the full report, please click here.

Corn stocks in all positions on March 1, 2021 totaled 7.70 billion bushels, down 3 percent from March 1, 2020. Of the total stocks, 4.04 billion bushels were stored on farms, down 9 percent from a year earlier. Off-farm stocks, at 3.66 billion bushels, are up 5 percent from a year ago. The December 2020 - February 2021 indicated disappearance is 3.59 billion bushels, compared with 3.38 billion bushels during the same period last year. Soybeans stored in all positions on March 1, 2021 totaled 1.56 billion bushels, down 31 percent from March 1, 2020. Soybean stocks stored on farms are estimated at 594 million bushels, down 41 percent from a year ago. Off-farm stocks, at 970 million bushels, are down 22 percent from last March. Indicated disappearance for the December 2020 - February 2021 quarter totaled 1.38 billion bushels, up 39 percent from the same period a year earlier.  For the full report, please click here.

Note: Plantings were a bullish surprise with stocks being close to pre-trade estimates.

Related:  Grain Stocks & Planting Intentions: Market Implications webinar       Join Karl Setzer, AgriVisor commodity risk analyst, as he reviews the important report numbers and what they mean for the corn and soybean markets on April 1 at 1 p.m. What shifts are being anticipated in acreage? More information and registration at this link.



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