Why bean acres shouldn't be headed higher
Jul 19, 2013
Pro Farmer Extra
- From the Editors of Pro Farmer newsletter -
July 19, 2013
Here's a taste of this week's Pro Farmer newsletter I think you'll find interesting. Heading into the Aug. 12 Crop Production Report, don't be surprised if many believe USDA will increase its estimate of planted bean acres. After reading this, you'll see why I don't think that's going to happen.
Resurvey of soybean planted acreage now underway
USDA’s National Ag Statistics Service (NASS) is “resurveying” planted soybean acres now through the end of the month ahead of the August 12 Crop Production Report.
Officially, NASS is resurveying bean plantings in 14 states. In reality, NASS is rechecking fields that were intended to be planted to soybeans ahead of the June Acreage Report to see if those fields were actually planted. A NASS official familiar with the process told us, “We plan to visit the fields from our June survey that had soybeans left to be planted.”
Technically, if USDA is only rechecking fields that were intended to be planted to soybeans, NASS will not “find” acres that were still intended to be planted to corn during the June Acreage Report survey, but ended up being planted to soybeans. Therefore, any adjustments to USDA’s June estimate of 77.728 million acres should be only to the downside.
If USDA finds all the acres labeled as “intended to be planted to beans” in the Acreage Report were planted, then planted bean acres for the August Crop Production Report would be unchanged at 77.728 million.
Follow Pro Farmer Editor Chip Flory on Twitter: @ChipFlory
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