USDA Reports Soybean, Corn Acreage Down

The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) estimated 89.6 million acres of soybeans planted in the United States for 2018, down 1 percent from last year, according to the Acreage report released today. Corn area planted is estimated at 89.1 million acres, down 1 percent from last year.

Following up to the Prospective Plantings report released in late spring, NASS surveyed approximately 8,600 segments of land and 70,500 farm operators during the first two weeks of June to gather information on what farmers actually planted. Key findings released in the Acreage report include:

Soybeans
•    Soybean planted area for 2018 is estimated at 89.6 million acres, down 1 percent from 2017.
•    Producers planted 94 percent of the soybean acreage using herbicide resistant seed varieties, unchanged from 2017.

Corn
•    Growers expect to harvest 81.8 million acres of corn for grain, down 1 percent from last year.
•    Ninety-two percent of all corn acres planted in the United States are biotech varieties, unchanged from last year.

All Cotton
•    All cotton planted area for 2018 is estimated at 13.5 million acres, 7 percent above last year.
•    Upland cotton is estimated at 13.3 million acres, up 7 percent from 2017.
•    American Pima is estimated at 243,000 acres, down 4 percent from last year.
•    Ninety-four percent of Upland cotton planted acres are biotech varieties, down 2 percent from 2017.

All Wheat
•    All wheat planted area for 2018 is estimated at 47.8 million acres, up 4 percent from last year. This represents the second lowest all wheat planted area since records began in 1919.

NASS today also released the quarterly Grain Stocks report to provide estimates of on-farm and off-farm stocks as of June 1. Key findings in that report include:

Grain Stocks
•    Soybeans stored totaled 1.22 million bushels, up 26 percent from June 1, 2017. On-farm soybean stocks were up 13 percent from a year ago, while off-farm stocks were up 33 percent.
•    Corn stocks totaled 5.31 billion bushels, up 1 percent from the same time last year. On-farm corn stocks were down 3 percent from a year ago, but off-farm stocks were up 7 percent.
•    All wheat stored totaled 1.10 billion bushels, down 7 percent from a year ago. On-farm all wheat stocks were down 32 percent from last year, while off-farm stocks were down 2 percent.
•    Durum wheat stored totaled 35.9 million bushels, down 1 percent from June 1, 2017. On-farm stocks of Durum wheat are down 19 percent from June 1, 2017. Off-farm stocks of Durum wheat were up from the previous year by 17 percent from a year ago.