Coming up on Thursday, June 30th, the USDA will release its Quarterly Stocks and Prospective Plantings reports. With the flooding and late planting, this year’s report is much more anticipated than the June version normally is.
Heading into the report, Allendale, Inc. has the following predictions:
Corn planted acres are expected to decrease 926,000 acres from USDA’s March estimate. States with late plantings saw acreage decline 1.9 million. That was balanced by aggressive planting in the Western Cornbelt where 1.0 million acres were added. Allendale estimates flooding of previously planted corn ground between the Delta and Missouri River will leave 540,000 acres unharvested. Allendale’s 91.252 million acre planted estimate is the second largest since 1944.
Soybean acres are expected to increase by 315,000 acres. This represents the third largest plantings in history.
Wheat acres will decrease by 1,578,000. The majority of that comes from a 1,255,000 acre revision to other spring wheat plantings. The total decline in wheat acres, from the March estimate, is the largest since 1984.
Source: Allendale, Inc.
Posted by Haylie Shipp