March 31 USDA reports: Where are all the surprises?

March 31 USDA reports: Where are all the surprises?

Not all growers are cutting back on corn, even though there's plenty of inventory still on farm, according to the March 31 USDA reports on acreage and grain stocks.

With March 1 corn stocks a whopping 7.745 billion bushels, there's plenty of corn on hand halfway through the marketing year. Farm Futures recent 2015 planting survey found growers on average had around 30% of their crop still unpriced, and here's where that corn is still. Nearly half the crop in Minnesota must still be marketed, with stocks in the eastern Midwest also large.

March 31 USDA reports: Where are all the surprises?


Related: March 31 USDA report: Farmers to plant more soybeans, less corn


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Farmers cut back on corn planting intentions in many states, including the "Three I" states

Farmers cut back on corn planting intentions in many states, including the "Three I" states. But growers plan to put more corn in the ground than in 2014 in many areas two. States with a large livestock industry will plant more corn than in areas where it must be shipped out.

March 31 USDA reports: Where are all the surprises?

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Sorghum is a popular crop in 2015, and if corn prices stay weak it could get even more popular. USDA estimated 2015 seedings at 7.9 million, up 11% from last year. But that was less than we found in our recent Farm Futures survey. Kansas grows a lot of milo and intentions are up only 2%, according to USDA, with acreage actually lower in Nebraska.

March 31 USDA reports: Where are all the surprises?

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Growers are boosting soybean seedings this spring, but not by nearly as much as many feared. Most states are increasing plantings, though growers on the Plains are mostly cutting back. Weather can have a big impact on final seedings, with corn planting already off to a slow start.

March 31 USDA reports: Where are all the surprises?

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Wheat growers are sowing as much for harvest in 2015 as most traders anticipated.  USDA estimate acreage down 1.46 million from last year. Spring wheat seedings are down, falling below 13 million, while durum rose less than many anticipated. USDA also increased its forecast of winter wheat seedings by 299 million, compared to its first estimate put in in January.

March 31 USDA reports: Where are all the surprises?

TAGS: USDA Wheat
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