All wheat area down 1%; wheat stocks up 28%

by Ron Sterk
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WASHINGTON — Area planted to all wheat for harvest in 2015 was estimated at 56.079 million acres, down 1% from 56.822 million acres in 2014, the U.S. Department of Agriculture said in its June 30 Acreage report. Corn planted area was estimated at 88.897 million acres, down 2% from 90.597 million acres in 2014, and soybean area was estimated at a record high 85.139 million acres, up 2% from 83.701 million acres last year.

All wheat harvested area was estimated at 48.454 million acres, up 4% from 46.381 million acres last year.

Durum seeded area was estimated at 1.954 million acres, up 40% from 1.398 million acres in 2014, the U.S.D.A. said. Durum area for harvest was estimated at 1.908 million acres, up 43% from 1.337 million acres in 2014.

“(Durum) planted area in North Dakota is estimated at 1.1 million acres, an increase of 31% from last year,” the U.S.D.A. said.

Area seeded to spring wheat other than durum was estimated at 13.505 million acres, up 4% from 13.025 million acres last year. Area intended for harvest was estimated at 13.217 million acres, also up 4% from 12.740 million acres last year. Hard red spring wheat planted area was estimated at 12.6 million acres. Spring wheat area in top-producing North Dakota was up 1% from 2014.

Winter wheat planted in 2014 for harvest in 2015 was estimated at 40.620 million acres, down 4% from 42.399 million acres last year and down slightly from the previous estimate, the U.S.D.A. said. Of the total planted winter wheat area, 29.6 million acres was hard red winter, 7.61 million acres was soft red winter and 3.44 million acres was white winter. Harvested area was estimated at 33.329 million acres, up 3% from 32.304 million acres last year but down 2% from the prior estimate.

“In the southern Great Plains (Kansas, Oklahoma and Texas) harvested area is forecast at 16.1 million acres, up 16% from last year,” the U.S.D.A. said.

U.S.D.A. planting estimates were above the average of trade expectations for all wheat, durum and other spring but were below for total winter wheat.

Corn harvested area in 2015 was forecast at 81.101 million acres, down 2% from 83.136 million acres harvested last year. The U.S.D.A corn planting estimate of 88.897 million acres, which was the lowest since 2010, was below the average trade expectation of 89.173 million acres.

“Farmers responding to the survey indicated that 90% of the intended corn acreage had been planted at the time of the interview, the same as the 10-year average,” the U.S.D.A. said.

Soybean area for harvest was forecast at a record high 84.449 million acres, up 2% from 83.061 million acres in 2014. The soybean planted area of 85.139 million acres was slightly below the average trade expectation of 85.187 million acres.

“Compared with last year, planted acreage is up or unchanged in 20 of the 31 major producing states,” the U.S.D.A. said. “Increases of 200,000 acres or more are anticipated in Illinois, Indiana, Minnesota and Tennessee.”

 

Grain Stocks

Old crop all wheat stored in all positions on June 1 (the start of the 2015-16 marketing year) totaled 753 million bus, up 28% from June 1, 2014, the U.S.D.A. said. On-farm stocks of wheat were 155 million bus, up 60% from last year, and off-farm stocks were 597 million bus, up 21%. Indicated March-May disappearance was 388 million bus, down 17% from the same period in 2014.

The U.S.D.A. all wheat stocks number was well above the average trade expectation of 713 million bus.

Durum stocks on June 1 were 25.9 million bus, up 20% from last year, with on-farm stocks at 10.3 million bus, down 20%, and off-farm stocks at 15.6 million bus, up 79%. Indicated durum disappearance during the March-May period was 11.8 million bus, down 29% from a year earlier.

Stocks of corn in all positions on June 1 totaled 4,447 million bus, up 15% from June 1, 2014. On farm stocks of corn were 2,275 million bus, up 22% from a year ago, and off farm stocks were 2,172 million bus, up 9%. Indicated March-May disappearance of corn was 3.30 billion bus, up 4% from 3.16 billion bus in the same period a year earlier.

Soybean stocks in all positions were 625 million bus, up 54% from June 1, 2014, the U.S.D.A said. On-farm stocks were 246 million bus, up 126% from last year, and off-farm stocks totaled 379 million bus, up 28%. Indicated disappearance during March-May was 701 million bus, up 19% from the same period a year earlier.

The U.S.D.A. stocks number for corn was below the average trade expectation of 4,512 million bus, and the U.S.D.A. soybean number also was below the trade average of 674 million bus.

Wheat futures prices traded solidly higher for soft red winter wheat, modestly higher for hard red winter and narrowly mixed for hard red spring shortly after the U.S.D.A. Acreage and Grain Stocks reports were released at 11:00 a.m. Central time. Corn and soy complex futures were trading sharply higher around midday.
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