Wednesday, February 21, 2024

Soybeans estimated to reach record year in 2015

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Corn could be lowest in five years

 

By David B. Strickland

Poultry Times Staff

dstrickland@poultrytimes.com

WASHINGTON — Current estimates from the USDA’s National Agricultural Statistics Service notes that soybeans planted for 2015, at 85.1 million acres, would set a new record high. This is an increase of 2 percent from 2014.

However for corn, growers in the U.S. have planted an estimated 88.9 million acres. This is the fewest amount seen in the past five years, NASS noted.

“Weather impacted crops across the United States this year,” NASS said. “Several of the states experienced droughts, while others saw some of the wettest spring weather in recorded history.”

Highlights from the department’s latest “Acreage” report include the following for soybeans and corn:

Soybeans

Soybeans harvest area is being estimated at 84.4 million acres in the U.S., which would be a record high. This would mark an increase of 1.4 million acres from last year.

Kentucky, Minnesota, Ohio, Pennsylvania and Wisconsin are forecast for record high planted acreages.

And for herbicide resistant varieties, the number stays the same as last year, representing 94 percent of planted soybean acres in the U.S.

In its “Grain Stocks” report, NASS notes that, “soybeans stored totaled 625 million bushels, up 54 percent from June 1, 2014. On-farm soybean stocks were up 126 percent from a year ago, while off-farm stocks were up 28 percent.”

Corn

Planted acres across the Corn Belt is being forecast at the same level or decreased from 2014. Wisconsin is the exception, which has an estimated increase of approximately 3 percent from last year.

Corn used for grain is expected to be down 2 percent from 2014, with a forecasted 81.1 million acres.

Biotech varieties represent 92 percent of all corn acres planted in the U.S., which is a decrease of 1 percent from last year.

For corn, NASS’s “Grain Stocks” report adds that, “corn stocks totaled 4.45 billion bushels, up 15 percent from the same time last year. On-farm corn stocks were up 22 percent from a year ago, and off-farm stocks were up 9 percent.”

In its July “Feed Outlook” report, the USDA’s Economic Research Service notes that, “U.S. feed grain production for 2015/2016 is forecast 373,000 metric tons lower (in July), reflecting lower corn production partially offset by increases in sorghum, barley and oats. Total U.S. feed grain production is projected at 362.3 million tons, down 14.7 million from the 2014/2015 estimate.”

“Planted area decreased from intentions for corn but increased for sorghum, barley and oats,” ERS reported. “Projected feed grain beginning stocks are down 2.2 million tons (in July). With import prospects reduced slightly to 2.8 million tons, the 2015/2016 supply is forecast at 413.2 million.”

For grain-consuming animal units (GCAUs), ERS added that the 2014/2015 numbers are estimated at 93.23 million units for July. This is an increase from June’s forecast of 92.93 million. The department notes that this is, “due to increases in forecast hog and cattle inventory. GCAUs for 2015/2016 are projected at 95.13 million units.”

ERS adds that corn used for ethanol production is being increased 25 million bushels for July in both the 2014/2015 and 2015/2016 estimates, because of anticipated increases of gasoline consumption in the U.S.

All NASS reports can be obtained at www.nass.usda.gov., and full ERS reports can be read at www.ers.usda.gov.

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