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March USDA Grain Stocks & Planting Intentions

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Here's what the USDA had to say:

INTENDED ACREAGE:

Corn planted area for all purposes in 2016 is estimated at 93.6 million acres, up 6 percent from last year. If realized, this will represent the highest planted acreage in the United States since 2013, and will be the third highest planted acreage in the United States since 1944.

Soybean planted area for 2016 is estimated at 82.2 million acres, down less than 1 percent from last year. Compared with last year, planted acreage intentions are down or unchanged in 23 of the 31 estimating States.

All wheat planted area for 2016 is estimated at 49.6 million acres, down 9 percent from 2015. The 2016 winter wheat planted area, at 36.2 million acres, is down 8 percent from last year and down 1 percent from the previous estimate. Of this total, about 26.2 million acres are Hard Red Winter, 6.60 million acres are Soft Red Winter, and 3.37 million acres are White Winter. Area planted to other spring wheat for 2016 is estimated at 11.3 million acres, down 14 percent from 2015. Of this total, about 10.7 million acres are Hard Red Spring wheat. The intended Durum planted area for 2016 is estimated at 2.00 million acres, up 3 percent from the previous year.

STOCKS:

Corn stocks in all positions on March 1, 2016 totaled 7.81 billion bushels, up 1 percent from March 1, 2015. Of the total stocks, 4.34 billion bushels were stored on farms, down 1 percent from a year earlier. Off-farm stocks, at 3.47 billion bushels, are up 3 percent from a year ago. The December 2015 - February 2016 indicated disappearance is 3.43 billion bushels, compared with 3.46 billion bushels during the same period last year.

Soybeans stored in all positions on March 1, 2016 totaled 1.53 billion bushels, up 15 percent from March 1, 2015. Soybean stocks stored on farms are estimated at 728 million bushels, up 19 percent from a year ago. Off-farm stocks, at 803 million bushels, are up 12 percent from last March. Indicated disappearance for the December 2015 - February 2016 quarter totaled 1.18 billion bushels, down 1 percent from the same period a year earlier.

All wheat stored in all positions on March 1, 2016 totaled 1.37 billion bushels, up 20 percent from a year ago. On-farm stocks are estimated at 320 million bushels, up 15 percent from last March. Off-farm stocks, at 1.05 billion bushels, are up 22 percent from a year ago. The December 2015 - February 2016 indicated disappearance is 375 million bushels, 4 percent below the same period a year earlier.

 

USDA March 1 U.S. Quarterly Grain Stocks (bln bu)
 
USDA
Mar 1 2016
Average
Trade Est.
Range of
Trade Est.
USDA
Mar 1 2015
Corn
7.808
7.801
7.700-7.975
7.750
Soybeans
1.531
1.556
1.425-1.615
1.327
Wheat
1.372
1.356
1.325-1.460
1.140

 

USDA March Planting Intentions (mln acres)
 
USDA
Mar
2016
Average Trade
Est.
Range Of
Trade Est.
USDA
2015
Final
Corn
93.601
89.972
89.000-91.000
87.999
Soybeans
82.236
83.057
81.600-84.200
82.650
Wheat
49.559
51.702
50.669-54.845
54.644
All Winter
36.216
36.925
36.430-39.646
39.461
Spring Wheat
11.348
12.838
11.950-13.620
13.247
Durum Wheat
1.995
1.875
1.600-2.182
1.936
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These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading.