Joe Victor is a Business Development Specialist with Minneapolis Grain Exchange, Inc., where he monitors cash grain activity and cash grain opportunities. He provides marketing advice through this blog.
Allendale, Inc. 21st Acreage Survey
Mar 19, 2010
Illinois based analytical research/ brokerage firm Allendale Inc was said to estimate the following 2010 acreage based on its annual producer survey:
ALDL 2010 Chg vs. 2009
Corn 90.152 +3.670
Soybeans 79.111 +1.660
Total Wheat 53.467 -5.666
Winter Wheat 37.172 -6.139
Durum Wheat 2.567 +.013
Other Spring Wheat 13.728 +.460
Corn planting intentions of 90.152 million acres would be the second largest since 1944 when 95.475 million acres were planted. The recent high in acres was 93.527 million in 2007. Using Allendale Inc. 160.42 bushel/acre trend yield, it would imply record production of 13.243 billion bushels versus last year’s 13.131 billion bushel crop.
Soybean planting intentions of 79.111 million acres is a new record. Using Allendale Inc. 42.69 bushel/acre trend yield, it would imply the second largest soybean production at 3.338 billion bushels. Last year’s record production was 3.359 billion.
Wheat acreage is estimated at 53.467 million acres. This is the smallest since 1970 when 48.739 million acres were planted. Using Allendale Inc. 43.54 bushel/acre trend yield, it would imply wheat production of 1.983 billion bushels versus last year’s 2.216 billion bushel production. The survey verified USDA’s winter wheat seedings report’s 37.097 with our own 37.172 million acre estimate.
We welcome your questions and comments.........Joe Victor
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The thoughts expressed and the basic data from which they are drawn are believed to be reliable but cannot be guaranteed. Any opinions expressed herein are subject to change without notice. Hypothetical or simulated performance results have certain inherent limitations. Simulated results do not represent actual trading. Simulated trading programs are subject to the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Commodity trading may not be suitable for recipients of this publication. This is not a solicitation of the purchase or sale of any commodities. Those acting on this information are responsible for their own actions. Any republication, or other use of this information and thoughts expressed herein without the written permission of Allendale, Inc., is strictly prohibited. Allendale Inc. c2010