Monday, March 31, 2014

USDA Prospective Plantings + Grains Stocks Reports - March 31, 2014

USDA Prospective Plantings:  Record Soybean Plantings Expected

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


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.


Corn Area Planted - States and United States: 2012-2014

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                     :                                 Area planted                                 
        State     :-------------------------------------------------------------------------------
                     :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                     :      ----------------- 1,000 acres ----------------              percent     
Iowa ..............:      14,200              13,600              14,000            103       
Kansas ..........:       4,700               4,300               4,400              102       
Nebraska .......:      10,000               9,950               9,400               94       
United States .:      97,155              95,365              91,691              96       
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Soybean Area Planted - States and United States: 2012-2014

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                       :                                 Area planted                                 
        State       :-------------------------------------------------------------------------------
                       :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                     :      ----------------- 1,000 acres ----------------              percent     
Iowa ..............:       9,350               9,300               9,600                103       
Kansas ..........:       4,000               3,600               3,900                108       
Nebraska .......:       5,050               4,800               5,400                113       
United States .:      77,198             76,533             81,493                106       
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Sorghum Area Planted - States and United States: 2012-2014

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                       :                                 Area planted                                 
        State       :-------------------------------------------------------------------------------
                       :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                       :      ----------------- 1,000 acres ----------------              percent     
Kansas ...........:       2,500               3,100               2,700               87       
Nebraska ........:         145                 285                 160                 56       
United States ..:       6,244               8,061               6,681               83       
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All Wheat Area Planted - States and United States: 2012-2014

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                        :                                 Area planted                                 
        State        :-------------------------------------------------------------------------------
                        :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                        :      ----------------- 1,000 acres ----------------              percent     
Iowa ................:          18                   30                    25                 83       
Kansas ............:       9,400               9,500               9,300               98       
Nebraska .........:       1,380               1,470               1,500              102       
United States ...:      55,666             56,156             55,815               99       
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Oat Area Planted - States and United States: 2012-2014

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                        :                                 Area planted                                 
        State        :-------------------------------------------------------------------------------
                        :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                       :      ----------------- 1,000 acres ----------------              percent     
Iowa ................:         130                 220                130                 59       
Kansas ...........:         105                 100                  65                 65       
Nebraska ........:          75                 150                 100                 67       
United States ..:       2,760              3,010              2,794                93       
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All Hay Area Harvested - States and United States: 2012-2014

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                        :                                 Area planted                                 
        State        :-------------------------------------------------------------------------------
                        :        2012         :       2013        :      2014       : % of prev. yr.   
----------------------------------------------------------------------------------------------------
                        :      ----------------- 1,000 acres ----------------              percent     
Iowa ................:       1,140               1,170               1,050                 90       
Kansas ............:       2,750               2,750               2,650                 96       
Nebraska .........:       2,570               2,500               2,450                 98       
United States ...:      56,260             58,257             58,267               100       
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USDA Grain Stocks Report - March 13, 2014


Corn Stocks Up 30 Percent from March 2013
Soybean Stocks Down 1 Percent
All Wheat Stocks Down 15 Percent


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.

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 - February 2014 quarter totaled 1.16 billion bushels, up 20 percent from the same period a year earlier.

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 - February 2014 indicated disappearance is 419 million bushels, down 4 percent from the same period a year earlier.

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 bushels is down 14 percent from the same period a year earlier.

Barley stocks in all positions on March 1, 2014 totaled 122 million bushels, up 4 percent from March 1, 2013. On-farm stocks are estimated at 43.8 million bushels, 25 percent above a year ago. Off-farm stocks, at 77.7 million bushels, are 5 percent below March 2013. The December 2013 - February 2014 indicated disappearance totaled 47.9 million bushels, 17 percent above the same period a year earlier.

Oats stored in all positions on March 1, 2014 totaled 35.1 million bushels, 33 percent below the stocks on March 1, 2013. Of the total stocks on hand, 19.8 million bushels are stored on farms, up 5 percent from a year ago. Off-farm stocks totaled 15.3 million bushels, down 55 percent from the previous year. Indicated disappearance during December 2013 - February 2014 totaled 12.9 million bushels, down 37 percent from the same period a year ago.

Grain sorghum stored in all positions on March 1, 2014 totaled 173 million bushels, up 88 percent from a year ago. On-farm stocks, at 16.0 million bushels, are up 47 percent from last March. Off-farm stocks, at 157 million bushels, are up 94 percent from a year earlier. The December 2013 - February 2014 indicated disappearance from all positions is 58.9 million bushels, up 22 percent from the same period last year.

Sunflower stocks in all positions on March 1, 2014 totaled 806 million pounds, down 33 percent from March 1, 2013. All stocks stored on farms totaled 305 million pounds and off-farm stocks totaled 501 million pounds. Stocks of oil type sunflower seed are 612 million pounds; of this total, 237 million pounds are on-farm stocks and 374 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 194 million pounds, with 67.2 million pounds stored on the farm and 127 million pounds stored off the farm.


Corn Stocks by Position - States and United States: March 1, 2013 and 2014

-------------------------------------------------------------------------------------------
                      :                    2013                         :               2014              
                      :----------------------------------------------------------------------------
     State         :      On      :    Off       : Total all       :    On       :   Off         : Total all
                      :    farms    :  farms     : positions     :   farms     : farms      : positions
--------------------------------------------------------------------------------------------
                      :                                           1,000 bushels                           
Iowa ..............:   560,000    490,191    1,050,191        710,000     507,036   1,217,036
Kansas ..........:    34,000    134,976     168,976           68,000      153,412     221,412
Nebraska .......:   285,000    302,555     587,555         440,000      368,902     808,902
United States .: 2,669,200  2,730,726   5,399,926     3,860,500   3,145,432   7,005,932
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Soybean Stocks by Position - States and United States: March 1, 2013 and 2014

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                      :                    2013                         :               2014              
                      :-------------------------------------------------------------------------
     State         :      On      :    Off       : Total all       :    On       :   Off         : Total all
                      :    farms    :  farms     : positions     :   farms     : farms      : positions
----------------------------------------------------------------------------------------
                      :                                         1,000 bushels                           
Iowa ...............:   89,000      118,577     207,577        74,000     134,204     208,204 
Kansas ..........:    9,700         24,616       34,316        9,200       30,721       39,921 
Nebraska .......:   20,500        49,818       70,318       17,500       69,227       86,727 
United States .:  456,700      541,320     9 98,020     381,900     610,425     992,325 
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