Hi Guys,
Here is the USDA report intro...looks like the market does not think there has been a big enough swing in corn acres. Dragging soy (canola) and wheat along for the bullish ride.
Moe
USDA Prospective Plantings
ISSN: 1949-159X
Released March 31, 2011, by the National Agricultural Statistics Service
(NASS), Agricultural Statistics Board, United States Department of
Agriculture (USDA).
Corn Planted Acreage Up 5 Percent from 2010
Soybean Acreage Down 1 Percent
All Wheat Acreage Up 8 Percent
All Cotton Acreage Up 15 Percent
Corn growers intend to plant 92.2 million acres of corn for all purposes in
2011, up 5 percent from last year and 7 percent higher than in 2009. If
realized, this will be the second highest planted acreage in the United
States since 1944, behind only the 93.5 million acres planted in 2007.
Acreage increases of 250,000 or more are expected in Iowa, Kansas, Nebraska,
North Dakota, Ohio, and South Dakota. The largest decrease is expected in
Texas, down 150,000 acres.
Soybean planted area for 2011 is estimated at 76.6 million acres, down
1 percent from last year. If realized, the United States planted area will be
the third largest on record. Compared with last year, planted acreage
declines of 100,000 acres or more are expected in Iowa, Kansas, Mississippi,
Nebraska, and Ohio. If realized, the planted area in New York and North
Dakota will be the largest on record.
All wheat planted area is estimated at 58.0 million acres, up 8 percent from
last year. The 2011 winter wheat planted area, at 41.2 million acres, is
10 percent above last year and up 1 percent from the previous estimate. Of
this total, about 29.4 million acres are Hard Red Winter, 8.2 million acres
are Soft Red Winter, and 3.7 million are White Winter. Area planted to other
spring wheat for 2011 is estimated at 14.4 million acres, up 5 percent from
2010. Of this total, about 13.6 million acres are Hard Red Spring wheat.
Durum planted area for 2011 is estimated at 2.37 million acres, down
8 percent from 2010.
All cotton plantings for 2011 are expected to total 12.6 million acres,
15 percent above last year. Upland acreage is expected to total 12.3 million
acres, up 14 percent from 2010. American Pima acreage is expected to total
252,500 acres, up 24 percent from 2010. Cotton acreage increases are expected
in every State. The largest increase, at 548,000 acres, is expected in Texas.
Acreage increases of more than 100,000 acres are expected in North Carolina,
Georgia, and Mississippi.
This report was approved on March 31, 2011.
Acting Secretary of
Agriculture
Michael T. Scuse
Agricultural Statistics Board
Chairperson
Hubert Hamer
Here is the USDA report intro...looks like the market does not think there has been a big enough swing in corn acres. Dragging soy (canola) and wheat along for the bullish ride.
Moe
USDA Prospective Plantings
ISSN: 1949-159X
Released March 31, 2011, by the National Agricultural Statistics Service
(NASS), Agricultural Statistics Board, United States Department of
Agriculture (USDA).
Corn Planted Acreage Up 5 Percent from 2010
Soybean Acreage Down 1 Percent
All Wheat Acreage Up 8 Percent
All Cotton Acreage Up 15 Percent
Corn growers intend to plant 92.2 million acres of corn for all purposes in
2011, up 5 percent from last year and 7 percent higher than in 2009. If
realized, this will be the second highest planted acreage in the United
States since 1944, behind only the 93.5 million acres planted in 2007.
Acreage increases of 250,000 or more are expected in Iowa, Kansas, Nebraska,
North Dakota, Ohio, and South Dakota. The largest decrease is expected in
Texas, down 150,000 acres.
Soybean planted area for 2011 is estimated at 76.6 million acres, down
1 percent from last year. If realized, the United States planted area will be
the third largest on record. Compared with last year, planted acreage
declines of 100,000 acres or more are expected in Iowa, Kansas, Mississippi,
Nebraska, and Ohio. If realized, the planted area in New York and North
Dakota will be the largest on record.
All wheat planted area is estimated at 58.0 million acres, up 8 percent from
last year. The 2011 winter wheat planted area, at 41.2 million acres, is
10 percent above last year and up 1 percent from the previous estimate. Of
this total, about 29.4 million acres are Hard Red Winter, 8.2 million acres
are Soft Red Winter, and 3.7 million are White Winter. Area planted to other
spring wheat for 2011 is estimated at 14.4 million acres, up 5 percent from
2010. Of this total, about 13.6 million acres are Hard Red Spring wheat.
Durum planted area for 2011 is estimated at 2.37 million acres, down
8 percent from 2010.
All cotton plantings for 2011 are expected to total 12.6 million acres,
15 percent above last year. Upland acreage is expected to total 12.3 million
acres, up 14 percent from 2010. American Pima acreage is expected to total
252,500 acres, up 24 percent from 2010. Cotton acreage increases are expected
in every State. The largest increase, at 548,000 acres, is expected in Texas.
Acreage increases of more than 100,000 acres are expected in North Carolina,
Georgia, and Mississippi.
This report was approved on March 31, 2011.
Acting Secretary of
Agriculture
Michael T. Scuse
Agricultural Statistics Board
Chairperson
Hubert Hamer
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