By: Farms.com Editors
Farms.com Risk Management analyst have reviewed today's USDA report
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See Full coverage and analysis of USDA's March 31 Prospective Plantings and Grain Stocks reports.
USDA Prospective Plantings reports:
- Corn Planted Acreage Down 4 Percent from 2013
- Soybean Acreage Up 6 Percent
- All Wheat Acreage Down 1 Percent
- All Cotton Acreage Up 7 Percent
USDA Grain Stocks Report:
- Corn Stocks Up 30 Percent from March 2013
- Soybean Stocks Down 1 Percent
- All Wheat Stocks Down 15 Percent
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Prospective Plantings Report:
Corn planted area for all purposes in 2014 is estimated at 91.7 million acres, down 4 percent from last year. If realized, this will represent the lowest planted acreage in the United States since 2010; however, this will represent the fifth largest corn acreage in the United States since 1944.
Soybean planted area for 2014 is estimated at a record high 81.5 million acres, up 6 percent from last year. Compared with last year, planted acreage intentions are up or unchanged across all States with the exception of Missouri and Oklahoma.
All wheat planted area for 2014 is estimated at 55.8 million acres, down 1 percent from 2013. The 2014 winter wheat planted area, at 42.0 million acres, is down 3 percent from last year but up slightly from the previous estimate. Of this total, about 30.2 million acres are Hard Red Winter, 8.43 million acres are Soft Red Winter, and 3.35 million acres are White Winter. Area planted to other spring wheat for 2014 is expected to total 12.0 million acres, up 4 percent from 2013.
Of this total, about 11.3 million acres are Hard Red Spring wheat. The intended Durum planted area for 2014 is estimated at 1.80 million acres, up 22 percent from the previous year.
All cotton planted area for 2014 is expected to total 11.1 million acres, 7 percent above last year. Upland area is expected to total 10.9 million acres, up 7 percent from 2013. American Pima area is expected to total 158,000 acres, down 21 percent from 2013.
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Grain Stocks reports:
Corn
stocks in all positions on March 1, 2014 totaled 7.01 billion bushels, up 30 percent from March 1, 2013 . Of the total stocks, 3.86 billion bushels are stored on farms, up 45 percent from a year earlier. Off - farm stocks, at 3.15 billion bushels, are up 15 percent from a year ago. The December 2013 - February 2014 indicated disappearance is 3.45 billion bushels, compared with 2.63 billion bushels during the same period last year.
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Soybeans
stored in all positions on March 1, 2014 totaled 992 million bushels, down 1 percent from March 1, 2013. Soybean stocks stored on farms are estimated at 382 million bushels, down 16 percent from a year ago. Off - farm stocks, at 610
million bushels, are up 13 percent from last March. Indicated disappearance for the December 2013
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All wheat
stored in all positions on March 1, 2014 totaled 1.06 billion bushels, down 15 percent from a year ago. On - farm stocks are estimated at 238 million bushels, up slightly from last March. Off - farm stocks, at 818 million bushels, are down 18 percent from a year ago. The December 2013
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Durum wheat
stocks in all positions on March 1, 2014 totaled 38.1 million bushels, down 10 percent from a year ago. On - farm stocks, at 20.7 million bushels, are down 3 percent from March 1,2013. Off - farm stocks totaled 17.4 million bushels, down 17 percent from a year ago. The December 2013 - February 2014 indicated disappearance of 15.8 million bush els is down 14 percent from the same period a year earlier
Source: USDA
USDA Grain Stocks Prospective Plantings Report By Moe Agostino
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