Corn Stocks 6.52 Billion; Intended Acreage 92.2 Million

March 31, 2011 02:43 AM

 Planting Intentions for corn is listed at 92.2 million acres. This number is 5% higher than 2010 final acreage and would represent the second most planted acres in U.S. history.

If realized, and at a nationwide trendline yields of 163 bu./acre, this would make for a 13.83 billion bu. crop (assuming an 8% harvest loss for silage and other crop loss). Usage for the 2010-11 marketing year is estimated around 13.5 billion bushels.

Corn stocks are listed at 6.52 billion bu. as of March 1, 2011, which is 15% lower than the same time last year. Average trade guesses, according to Commodity Update, was 6.690 billon bushels. Soybean stocks are projected at 1.25 billion bu., versus trade guesses of 1.299. Wheat is listed at 1.43 billion bushels, versus trade guesses of 1.399 billion bushels.

Intended plantings for soybeans is estimated at 76.6 million acres, which is 1% lower than 2010 acreage, the third largest crop in U.S. history.

Wheat planted area is estimated at 58 million acres, up 8 percent from last year. Winter wheat accounts for 41.2 million acres of that total, 14.4 million acres are accounted for in other wheat crops.

Cotton acreage is estimated at 12.6 million acres, 15% higher than last year.

South Dakota corn growers say they intend to plant almost 850,000 additional acres of corn for a total 5.4 million. In 2010, due to a lot of prevented planting acres, corn growers there planted 4.55 million acres. Iowa at 13.9 million acres, compared to 13.4 last year, a 4% increase. North Dakota is expected to increase nearly 22% from last year, with planted acreage anticipated at 2.5 million acres. Nebraska is expected to plant 350,000 more corn acres for a total acreage of 9.5 million representing a 4% increase.

Surprisingly, corn acres are anticipated to increase in traditional cotton states like Georgia (330,000 acres vs. 295,000 last year) and Mississippi (860,000 vs. 750,000 last year). Alabama is expected to plant an additional 100,000 acres of corn.

Cotton is the big winner is Texas, and is expected to plant an additional 548,000 acres this year. Corn in Texas is expected to drop nearly 7%, with Texas corn acreage checking in at 2.150 million acres vs. 2.3 million last year.

While corn will increase acreage in Mississippi, cotton is expected to mount a comeback this year with acreage expected to increase 110,000 acres for a total of 530,000 acres. Georgia is also favoring cotton this year with an increase of 9%  over last year for an acreage total of 1.45 million acres. 

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