March 31 USDA Prospective Plantings + Grain Stocks Reports

USDA Prospective Plantings Report - March 31, 2015

Corn Planted Acreage Down 2 Percent from 2014
Soybean Acreage Up 1 Percent
All Wheat Acreage Down 3 Percent
All Cotton Acreage Down 13 Percent

Corn planted area for all purposes in 2015 is estimated at 89.2 million acres, down 2 percent from last year. If realized, this will be the third consecutive year of an acreage decline and would be the lowest planted acreage in the United States since 2010.

Soybean planted area for 2015 is estimated at a record high 84.6 million acres, up 1 percent from last year. Compared with last year, planted acreage intentions are up or unchanged in 21 of the 31 major producing States.

All wheat planted area for 2015 is estimated at 55.4 million acres, down 3 percent from 2014. The 2015 winter wheat planted area, at 40.8 million acres, is down 4 percent from last year but up less than 1 percent from the previous estimate. Of this total, about 29.6 million acres are Hard Red Winter, 7.75 million acres are Soft Red Winter, and 3.43 million acres are White Winter. Area planted to other spring wheat for 2015 is estimated at 13.0 million acres, down slightly from 2014. Of this total, about 12.1 million acres are Hard Red Spring wheat. The intended Durum planted area for 2015 is estimated at 1.65 million acres, up 18 percent from the previous year.

All cotton planted area for 2015 is estimated at 9.55 million acres, 13 percent below last year. Upland area is estimated at 9.40 million acres, down 13 percent from 2014. American Pima area is estimated at 150,000 acres, down 22 percent from 2014.

Expected Corn Plantings by State  (1,000 acres, % of last year)
Nebraska .......:           9,300                 100%       
Iowa ..............:          13,600                 99%       
Illinois ...........:          11,700                 98%       
Indiana ..........:          5,800                   98%       
Kansas ...........:          4,050                  100%
Minnesota .....:          8,500                  104%
Missouri ........:           3,300                   94%                       
South Dakota .:          5,200                   90%
       

Exptected Soybean Plantings by State  (1,000 acres, % of last year)
Nebraska .......:           5,100                  94%       
Iowa ..............:          10,100                102%       
Illinois ...........:           9,900                 101%       
Indiana ..........:           5,600                 102%       
Kansas ...........:           3,800                  95%
Minnesota .....:           7,500                 102%           
Missouri ........:            5,650                100%
South Dakota .:            5,150                100%       

-----------------------------------------------------------------------------------------------------------------

USDA Grain Stocks Report - March 31, 2015

Corn Stocks Up 11 Percent from March 2014
Soybean Stocks Up 34 Percent
All Wheat Stocks Up 6 Percent

Corn stocks in all positions on March 1, 2015 totaled 7.74 billion bushels, up 11 percent from March 1, 2014. Of the total stocks, 4.38 billion bushels were stored on farms, up 13 percent from a year earlier. Off-farm stocks, at 3.36 billion bushels, are up 7 percent from a year ago. The December 2014 - February 2015 indicated disappearance is 3.47 billion bushels, compared with 3.44 billion bushels during the same period last year.

Soybeans stored in all positions on March 1, 2015 totaled 1.33 billion bushels, up 34 percent from March 1, 2014. Soybean stocks stored on farms are estimated at 609 million bushels, up 60 percent from a year ago. Off-farm stocks, at 725 million bushels, are up 18 percent from last March. Indicated disappearance for the December 2014 - February 2015 quarter totaled 1.19 billion bushels, up 3 percent from the same period a year earlier.

All wheat stored in all positions on March 1, 2015 totaled 1.12 billion bushels, up 6 percent from a year ago. On-farm stocks are estimated at 279 million bushels, up 17 percent from last March. Off-farm stocks, at 846 million bushels, are up 3 percent from a year ago. The December 2014 - February 2015 indicated disappearance is 405 million bushels, down 3 percent from the same period a year earlier.

Durum wheat stocks in all positions on March 1, 2015 totaled 37.6 million bushels, down 1 percent from a year ago. On-farm stocks, at 16.2 million bushels, are down 22 percent from March 1, 2014. Off-farm stocks totaled 21.4 million bushels, up 23 percent from a year ago. The December 2014 - February 2015 indicated disappearance of 6.43 million bushels is down 59 percent from the same period a year earlier.

Barley stocks in all positions on March 1, 2015 totaled 118 million bushels, down 3 percent from March 1, 2014. On-farm stocks are estimated at 41.8 million bushels, 5 percent below a year ago. Off-farm stocks, at 76.1 million bushels, are 2 percent below March 2014. The December 2014 - February 2015 indicated disappearance totaled 38.2 million bushels, 20 percent below the same period a year earlier.

Oats stored in all positions on March 1, 2015 totaled 59.4 million bushels, 69 percent above the stocks on March 1, 2014. Of the total stocks on hand, 20.8 million bushels were stored on farms, up 5 percent from a year ago. Off-farm stocks totaled 38.6 million bushels, up 152 percent from the previous year. Indicated disappearance during December 2014 - February 2015 totaled 7.61 million bushels, down 41 percent from the same period a year ago.

Grain sorghum stored in all positions on March 1, 2015 totaled 119 million bushels, down 33 percent from a year ago. On-farm stocks, at 9.00 million bushels, are down 44 percent from last March. Off-farm stocks, at 110 million bushels, are down 31 percent from a year earlier. The December 2014 - February 2015 indicated disappearance from all positions is 104 million bushels, up 87 percent from the same period last year.

Sunflower stocks in all positions on March 1, 2015 totaled 696 million pounds, down 14 percent from March 1, 2014. All stocks stored on farms totaled 257 million pounds and off-farm stocks totaled 439 million pounds. Stocks of oil type sunflower seed are 503 million pounds; of this total, 195 million pounds are on-farm stocks and 308 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 193 million pounds, with 61.4 million pounds stored on the farm and 131 million pounds stored off the farm.

Stocks by State (1,000 bu) :  (on farm - off farm - total stocks)
Nebraska Corn ................:   430,000  -  393,875   -   823,875
Nebraska Soybeans ........:     32,000   -    76,036   -   108,036
Nebraska Wheat .............:       2,300  -   34,214    -     36,514
Nebraska Sorghum .........:          650  -      2,864   -      3,514 
Iowa Corn .......................:   910,000  -  563,591   -  1,473,591
Iowa Soybeans ...............:   110,000   -  155,888  -    265,888