USDA FORECASTS 6% INCREASE IN SOYBEAN ACRES, CORN ACRES DOWN 4%
Mar. 31, 2014
Source: USDA news release
Producers surveyed across the United States intend to plant an estimated 81.5 million acres of soybeans in 2014, up 6 percent from last year and an all-time record high, according to the Prospective Plantings report released today by the U.S. Department of Agriculture's National Agricultural Statistics Service (NASS).
If realized, soybeans will surpass the previous record of 77.5 million acres planted in the United States set in 2009.
Planted acreage intentions for soybeans are up or unchanged in all states except Missouri and Oklahoma. The largest increase is expected in North Dakota with a record high 5.65 million acres, an increase of one million acres from 2013. If realized, the planted area of soybeans in Nebraska, New York, Pennsylvania, South Dakota and Wisconsin will also be the largest on record.
Corn growers intend to plant 91.7 million acres in 2014, down 4 percent from last year and if realized the lowest planted acreage since 2010. Expected returns for corn are anticipated to be lower in 2014 compared with recent years. Colorado, Idaho, Iowa, Kansas, Maine, Massachusetts and Utah are expected to increase planted acreage from last year. If realized, planted acres in Idaho will be a record high.
The Prospective Plantings report provides the first official, survey based estimates of U.S. farmers' 2014 planting intentions. NASS's acreage estimates are based on surveys conducted during the first two weeks of March from a sample of more than 84,000 farm operators across the United States.
Other key findings in the report are:
• All wheat planted area for 2014 is estimated at 55.8 million acres, down 1 percent from 2013.
• Winter wheat planted area, at 42.0 million, is down 3 percent from last year but up slightly from the previous estimate.
• Area planted to spring wheat for 2014 is expected to total 12.0 million acres, up 4 percent from 2013.
• Durum wheat is expected to total 1.80 million acres for 2014, up 22 percent from last year.
• All cotton planted area for 2014 is expected to total 11.1 million acres, 7 percent above last year.
NASS today also released the quarterly Grain Stocks report to provide estimates of on-farm and off-farm stocks as of March 1. Key findings in that report include:
• Soybeans stored totaled 992 million bushels, down 1 percent from March 1, 2013. On-farm soybean stocks were down 16 percent from a year ago, while off-farm stocks were up 13 percent.
• Corn stocks totaled 7.01 billion bushels, up 30 percent from the same time last year. On-farm corn stocks were up 45 percent from a year ago, and off-farm stocks were up 15 percent.
• All wheat stored totaled 1.06 billion bushels, down 15 percent from a year ago. On-farm all wheat stocks were up slightly from last year, while off-farm stocks were down 18 percent.
• Durum wheat stored totaled 38.1 million bushels, down 10 percent from March 1, 2013. Both on-farm and off-farm stocks of Durum wheat were down from the previous year, 3 percent and 17 percent, respectively.
The Prospective Plantings and Grain Stocks reports and all NASS reports are available online at www.nass.usda.gov.