The USDA released its much anticipated Agriculture Supply and Demand Estimates report today at 11:00 am CST.
Moe Agostino, Senior Commodity Marketing Strategist does not understand where the USDA found an increase in corn acres planted this year when the analysts were expecting 2 M of prevented plant acres. Stay tuned for his video analysis a little later this afternoon.
Full coverage of the report will follow.
Here is the link to the full report.
USDA Grain Stocks Reports
http://usda01.library.cornell.edu/usda/current/GraiStoc/GraiStoc-06-28-2013.pdf
USDA Acreage Report
http://usda01.library.cornell.edu/usda/nass/Acre//2010s/2013/Acre-06-28-2013.pdf
Corn Planted Acreage Up Slightly from 2012
Soybean Acreage Up 1 Percent
All Wheat Acreage Up 1 Percent
All Cotton Acreage Down 17 Percent
Corn planted area for all purposes in 2013 is estimated at 97.4 million acres, up slightly from last year. This represents the highest planted acreage in the United States since 1936 when an estimated 102 million acres were planted. Growers expect to harvest 89.1 million acres for grain, up 2 percent from last year.
Soybean planted area for 2013 is estimated at a record high 77.7 million acres, up 1 percent from last year. Area for harvest, at 76.9 million acres, is up 1 percent from 2012 and will be a record high, if realized. Record high planted acreage is estimated in New York, Pennsylvania, and South Dakota.
All wheat planted area for 2013 is estimated at 56.5 million acres, up 1 percent from 2012. The 2013 winter wheat planted area, at 42.7 million acres, is 3 percent above last year and up 2 percent from the previous estimate. Of this total, about 29.4 million acres are Hard Red Winter, 9.96 million acres are Soft Red Winter, and 3.38 million acres are White Winter. Area planted to other spring wheat for 2013 is estimated at 12.3 million acres, up slightly from 2012. Of this total, about 11.7 million acres are Hard Red Spring wheat. The estimated Durum wheat planted area for 2013 is estimated at 1.54 million acres, down 28 percent from the previous year.
All cotton planted area for 2013 is estimated at 10.3 million acres, 17 percent below last year. Upland area is estimated at 10.0 million acres, down 17 percent from 2012. American Pima area is estimated at 226,000 acres, down 5 percent from 2012.