USDA’s Acreage and Grain Stocks Reports on June 30 have a history of producing strong market moves that usually set the price tone through summer (you can find more on that in this week’s Pro Farmer newsletter). Traders expect corn, spring wheat and cotton planted acres to fall from March intentions, while soybean acres are expected to rise. June 1 stocks are expected to be 4.95 billion bu. for corn, 1.39 billion bu. for soybeans and 980 million bu. for wheat. The following expectations are based on survey work by Reuters (Bloomberg for cotton).
|
Expectations for |
|
|
Corn – million acres |
|
|
Average est. |
95.207 |
|
Range |
93.000-97.100 |
|
March Intentions |
96.990 |
|
USDA final 2019 |
89.700 |
|
|
|
|
Soybeans – million acres |
|
|
Average est. |
84.716 |
|
Range |
83.500-85.600 |
|
March Intentions |
83.510 |
|
USDA final 2019 |
76.100 |
|
|
|
|
All wheat – million acres |
|
|
Average est. |
44.718 |
|
Range |
44.200-45.100 |
|
March Intentions |
44.655 |
|
USDA final 2019 |
45.158 |
|
|
|
|
Winter wheat – million acres |
|
|
Average est. |
30.849 |
|
Range |
30.400-31.600 |
|
March Intentions |
30.775 |
|
USDA final 2019 |
31.159 |
|
|
|
|
Other spring wheat – million acres |
|
|
Average est. |
12.551 |
|
Range |
12.150-12.810 |
|
March Intentions |
12.590 |
|
USDA final 2019 |
12.660 |
|
|
|
|
Durum wheat – million acres |
|
|
Average est. |
1.313 |
|
Range |
1.200-1.440 |
|
March Intentions |
1.290 |
|
USDA final 2019 |
1.339 |
|
|
|
|
Cotton – million acres |
|
|
Average est. |
13.20 |
|
Range |
11.90-13.90 |
|
March Intentions |
13.70 |
|
USDA final 2019 |
13.74 |
|
Expectations for |
|
|
Corn – billion bu. |
|
|
Average est. for June 1, 2020 |
4.951 |
|
Range |
4.795-5.150 |
|
USDA June 1, 2019 |
5.202 |
|
USDA March 1, 2020 |
7.953 |
|
|
|
|
Soybeans – billion bu. |
|
|
Average est. for June 1, 2020 |
1.392 |
|
Range |
1.275-1.490 |
|
USDA June 1, 2019 |
1.783 |
|
USDA March 1, 2020 |
2.253 |
|
|
|
|
Wheat – billion bu. |
|
|
Average est. for June 1, 2020 |
0.980 |
|
Range |
0.925-0.996 |
|
USDA June 1, 2019 |
1.080 |
|
USDA March 1, 2020 |
1.412 |
|
|
|
