Friday's Acreage Report Won't Tell the Full Story

Posted on 06/26/2019 9:55 AM

Interest in Friday’s Acreage Report is especially high this year given record planting delays. But the combination of slow planting and survey dates, means the acreage estimates will include some acres that will ultimately be claimed as prevent plant. As a result, we expect USDA to resurvey producers on plantings preceding its August Crop Production Report. USDA will also release its Quarterly Grain Stocks Report at 11:00 a.m. CT Friday. Following are expectations heading into the reports based on a Reuters survey of analysts.

Expectations for
Acreage Report

Corn – million acres

Average est.

86.662

Range

82.000-89.800

March Intentions

92.792

June WASDE

89.800

USDA final 2018

89.129

 

Soybeans – million acres

Average est.

84.355

Range

81.000-86.500

March Intentions

84.617

June WASDE

84.600

USDA final 2018

89.196

 

All wheat – million acres

Average est.

45.654

Range

44.500-46.100

March Intentions

45.754

June WASDE

45.800

USDA final 2018

47.800

 

Winter wheat – million acres

Average est.

31.577

Range

31.500-32.140

March Intentions

31.504

June WASDE

NA

USDA final 2018

32.535

 

Other spring wheat – million acres

Average est.

12.595

Range

11.961-13.000

March Intentions

12.830

June WASDE

NA

USDA final 2018

13.200

 

Durum wheat – million acres

Average est.

1.476

Range

1.300-1.820

March Intentions

1.420

June WASDE

NA

USDA final 2018

2.065

 

Cotton – million acres

Average est.

13.819

Range

13.480-14.300

March Intentions

13.780

June WASDE

13.780

USDA final 2018

14.099

 

Expectations for
Quarterly Grain Stocks Report

Corn – billion bu.

Average est. for June 1, 2019

5.332

Range

5.174-5.497

USDA June 1, 2018

5.305

USDA March 1, 2019

8.605

 

Soybeans – billion bu.

Average est. for June 1, 2019

1.861

Range

1.700-1.962

USDA June 1, 2018

1.219

USDA March 1, 2019

2.716

 

Wheat – billion bu.

Average est. for June 1, 2019

1.100

Range

1.077-1.160

USDA June 1, 2018

1.099

USDA March 1, 2019

1.591

 

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