Back
Mar 26, 2013
As reported by DTN Markets Editor Katie Micik today, the U.S. Department of Agriculture (USDA) in its Prospective Plantings Report issued earlier today, estimated 2013 soybean planted acreage at 77.13 million acres, down slightly from 2012 and opposite many analysts’ projections. According to the report, USDA expects farmers in the Great Plains, with the exception of North Dakota, to plant fewer soybean acres this year. Nebraska and Minnesota lead the decline while Illinois and North Dakota show the largest increases.
Also released this morning was USDA’s Quarterly Grain Stocks report, which showed soybean stocks totaling 999 million bushels, which represents a 27 percent decrease from the first quarter of 2012. The report details the total stocks reflect 457 million bushels stored on farms while off-farm stocks are estimated at 543 million bushels, down 18 percent and 34 percent from Q1 2012. Disappearance during the quarter totaled 967 million bushels, down 3 percent from the same period in 2012.
