Winter wheat plantings rose from what USDA signaled at its Outlook Forum in February, with cotton planting intentions also coming in a bit lighter than analysts anticipated. The planted acreage projections are based on USDA's survey work the first two weeks of March. The following expectations are based on survey work by Reuters.
USDA’s March 1 corn stocks estimate came in 67 million bu. lighter than expected, plus USDA revised its Dec. 1 corn stocks estimate 28 million bu. lighter vs. what was initially reported.
On the other hand, quarterly soybean and wheat stocks came in a bit higher than expected as of March 1, with USDA also raising Dec. 1 stocks vs. what was initially reported. Its Dec. 1 soybean stocks estimate was raised nearly 14 million bu. from what was initially reported. Its Dec. 1 wheat stocks were also raised nearly 29 million bu. from what was previously reported.
|
Prospective Plantings Report |
|
|
Corn – million acres |
|
|
USDA |
91.144 |
|
Average est. |
93.208 |
|
Pro Farmer/Doane survey |
93.400 |
|
USDA Outlook Forum |
92.000 |
|
USDA final 2020 |
90.819 |
|
|
|
|
Soybeans – million acres |
|
|
USDA |
87.600 |
|
Average est. |
89.996 |
|
Pro Farmer/Doane survey |
88.900 |
|
USDA Outlook Forum |
90.000 |
|
USDA final 2020 |
83.084 |
|
|
|
|
All wheat – million acres |
|
|
USDA |
46.358 |
|
Average est. |
44.971 |
|
Pro Farmer/Doane survey |
45.400 |
|
USDA Outlook Forum |
45.000 |
|
USDA final 2020 |
44.349 |
|
|
|
|
Winter wheat – million acres |
|
|
USDA |
33.078 |
|
Average est. |
31.811 |
|
Pro Farmer/Doane survey |
31.991 |
|
USDA Outlook Forum |
31.991 |
|
USDA final 2020 |
30.415 |
|
|
|
|
Other spring wheat – million acres |
|
|
USDA |
11.740 |
|
Average est. |
11.644 |
|
Pro Farmer/Doane survey |
11.600 |
|
USDA Outlook Forum |
NA |
|
USDA final 2020 |
12.250 |
|
|
|
|
Durum wheat – million acres |
|
|
USDA |
1.540 |
|
Average est. |
1.641 |
|
Pro Farmer/Doane survey |
1.800 |
|
USDA Outlook Forum |
NA |
|
USDA final 2020 |
1.684 |
|
|
|
|
Cotton – million acres |
|
|
USDA |
12.036 |
|
Average est. |
11.905 |
|
Pro Farmer/Doane survey |
12.200 |
|
USDA Outlook Forum |
12.100 |
|
USDA final 2020 |
12.093 |
|
|
|
|
Quarterly Grain Stocks Report |
|
|
Corn – billion bu. |
|
|
USDA, March 1, 2021 |
7.701 |
|
Average est. for March 1, 2021 |
7.767 |
|
USDA Dec. 1, 2020 |
11.294 |
|
USDA March 1, 2020 |
7.952 |
|
|
|
|
Soybeans – billion bu. |
|
|
USDA, March 1, 2021 |
1.564 |
|
Average est. for March 1, 2021 |
1.534 |
|
USDA Dec. 1, 2020 |
2.947 |
|
USDA March 1, 2020 |
2.255 |
|
|
|
|
Wheat – billion bu. |
|
|
USDA, March 1, 2021 |
1.314 |
|
Average est. for March 1, 2021 |
1.272 |
|
USDA Dec. 1, 2020 |
1.674 |
|
USDA March 1, 2020 |
1.415 |
|
|
|
