USDA June Acreage Report
USDA issued a bearish acreage and stocks number for corn. Chicago corn opened limit down, with limitless July contract trading down 80 cents. Soybeans were off at least 30 cents; wheat by 50 cents. We have comments from Jim Bower of Bower Trading, who believes the highs have been made in the grain markets for 2011.
John Hawkins
Published: Jun 30, 2011
Corn planted area for all purposes in 2011 is estimated at 92.3 million acres, up 5 percent from last year, and the second highest planted acreage in the United States since 1944, behind only the 93.5 million acres planted in 2007. Growers expect to harvest 84.9 million acres for grain, up 4 percent from last year.
Soybean planted area for 2011 is estimated at 75.2 million acres, down 3 percent from last year. Area for harvest, at 74.3 million acres, is also down 3 percent from 2010. Record high planted acreage is estimated in New York and North Dakota.
Most of the increase in corn acres this spring came in the western Corn Belt, where Nebraska's corn acreage increased 850,000 acres from 2010 levels. Iowa's acreage was up by 800,000, with South Dakota up by 650,000 and Minnesota by 400,000 acres.
Illinois' corn acres this year were down 100,000 acres from 2010, while soybean acres were down by 200,000.
June Acreage Report
Figures in million acres
| Corn |
92.282 |
90.767 |
89.5-91.5 |
90.700 |
88.192 |
| Soybeans |
75.208 |
76.530 |
75.5-77.2 |
76.609 |
77.404 |
| All Wheat |
56.433 |
56.671 |
55.0-57.6 |
57.700 |
53.603 |
| Spring Wheat |
13.627 |
13.349 |
12.5-13.9 |
14.427 |
13.698 |
| Durum Wheat |
1.698 |
2.034 |
1.3-2.8 |
2.365 |
2.570 |
To view complete acreage report after 7:30 a.m. CDT Thursday, click here
Grain Stocks
Figures in billions of bushels
| Corn |
3.670 |
3.324 |
2.998-3.515 |
6.523 |
4.310 |
| Soybeans |
0.619 |
0.597 |
0.549-0.632 |
1.249 |
0.571 |
| Wheat |
0.861 |
0.825 |
0.791-0.878 |
1.425 |
0.976 |
To view complete grain stocks report after 7:30 a.m. CDT Thursday, click here
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