USDA REPORT INDICATES CORN STOCKS UP, PROSPECTIVE PLANTED ACRES DOWN

MARCH 2014

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(Posted Mon. Mar 31st, 2014)

American farmers expect to plant 3.7 million fewer acres of corn in 2014, a four percent decrease from 2013, according the U.S. Department of Agriculture’s Prospective Plantings report released today.   If realized, total corn plantings in the United States would total 91.7 million acres for the lowest planted acreage since 2010. Notably, it would still be the fifth-largest U.S. corn acreage planted since 1944.

 

“In 2013, U.S. farmers produced a record crop abundant enough to meet all needs and provide an ample carry over into 2014,” National Corn Growers Association President Martin Barbre said.  “While it is still early in the season and many factors may change the reality on the ground as planting progresses, the public can rest assured that bountiful stockpiles and adequate plantings will ensure our corn security for the year to come.”

 

The USDA’s estimate for 2014 is for 91.7 million acres to be planted in field corn.  Assuming the five-year average 83.9 percent harvest rate holds and the projected trend yield of 159.4 bushels per acre is achieved, farmers will harvest 13.37 billion bushels. 

Some states are expected to increase corn planting including Colorado, Idaho, Iowa, Kansas, Maine, Massachusetts and Utah. If projections hold, Idaho would plant a record acreage to corn this year. The actual number of planted acres will be released in USDA’s June 30 report.

 

In the Grain Stocks report, also released this morning, USDA shows corn stocks in all positions stood at more than seven billion bushels on March 1, 2014, up 30 percent from the same time last year.  Both figures for on- and off-farm corn in storage stood higher than at this time last year, up 45 and 15 percent respectively. In total, USDA shows 3.45 billion bushels of corn used between December and February, compared with 2.63 over the same period in 2013.

 

For the full Prospective Plantings report, click here.

 

For the full Grain Stocks report, click here.