WASHINGTON, March 30, 2012- The Grain Stocks and Prospective Plantings reports released from USDA’s National Agricultural Statistics Service (NASS) this morning reported 2012 corn planted acreage higher than the already record-high estimates expected from the survey with corn estimates covering the most acres since 1937. In Grain Stocks, corn inventories are down 8 percent from this time last year and soybean jumped 10 percent from March 2011.
Corn growers intend to plant 95.9 million acres of corn for all purposes in 2012, reports USDA, which is up 4 percent from last year and 9 percent higher than in 2010. If realized, this will represent the highest planted acreage in the United States since 1937 when an estimated 97.2 million acres were planted.
This year’s estimated planted acreage for soybean slightly fell from 2011. Cotton planted acreage is reported down 11 percent, as expected due to weather conditions last year.
NASS reported soybean acreage meeting expectations at 73.9 million acres estimated for 2012, which is down 1 percent from last year. Compared with 2011, USDA reports that planted area for soybean is down or unchanged across the Corn Belt and Great Plains with the exceptions of Illinois, North Dakota, South Dakota, and Wisconsin.
All wheat planted area is estimated at 55.9 million acres, up 3 percent from 2011. The 2012 winter wheat planted area, at 41.7 million acres, is up 3 percent from last year but down 1 percent from the previous estimate. All cotton planted area for 2012 is expected to total 13.2 million acres, 11 percent below last year.
Corn stocks in all positions on March 1, 2012 totaled 6.01 billion bushels, down 8 percent from March 1, 2011.
Soybeans stored in all positions on March 1, 2012 totaled 1.37 billion bushels, up 10 percent from March 1, 2011.
All wheat stored in all positions on March 1, 2012 totaled 1.20 billion bushels, down 16 percent from a year ago.
Barley, oats and grain sorghum stocks are all down from last year at this time. Barley stocks in all positions on March 1, 2012 totaled 93.7 million bushels, down 32 percent from March 1, 2011. Oats stored in all positions on March 1, 2012 totaled 72.5 million bushels, 16 percent below the stocks on March 1, 2011. Grain sorghum stored in all positions on March 1, 2012 totaled 108 million bushels, down 37 percent from a year ago
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