USDA: Soybean acres at record high, stocks down 12 percent

By Susanne Retka Schill | June 09, 2009
Posted June 30, 2009

Planted soybean acreage for 2009 is at a record high and stocks in storage down some as reported by USDA it its acreage and grain stocks reports released June 30.

USDA estimated soybean planted area for 2009 at a record high 77.5 million acres, up 2 percent from last year. The estimated area for harvest, at 76.5 million acres, was up 3 percent from 2008, and will be the largest harvested area on record, if realized. Compared with last year, planted acreage increased by 200,000 acres or more in Kansas, Mississippi, Missouri, North Dakota, and South Dakota. The largest decrease was in Nebraska, down 400,000 acres from 2008, as many farmers switched to corn this year. Record high planted acreage was estimated for in Kansas, New York, North Dakota, and Pennsylvania.

Corn planted area in 2009 is estimated at 87.0 million acres, up 1 percent from last year but 7 percent below 2007. This is the second largest planted acreage since 1946, behind 2007. While early planting was slowed by wet weather, farmers reported that 97 percent of the intended corn acreage had been planted at the time of the survey interview compared with the 10-year average of 98 percent.

Soybeans stored in all positions on June 1, 2009, totaled 597 million bushels, down 12 percent from June 1, 2008. On-farm stocks totaled 226 million bushels, down slightly from a year ago. Off-farm stocks, at 371 million bushels, are down 18 percent from the previous year. Indicated disappearance for the March - May 2009 quarter totaled 705 million bushels, down 7 percent from the same period a year earlier.

Corn stocks in all positions on June 1, 2009, totaled 4.27 billion bushels, up 6 percent from June 1, 2008. Of the total stocks, 2.21 billion bushels are stored on farms, up 12 percent from a year earlier. Off-farm stocks, at 2.06 billion bushels, are up slightly from a year ago. The March - May 2009 indicated disappearance is 2.69 billion bushels, compared with 2.83 billion bushels during the same period last year.

Wheat rebounded from the previous years' record low stocks worldwide-creating a shortage that helped spur last year's market gyrations along with other factors. USDA reported all wheat stored in all positions on June 1, 2009, totaled 667 million bushels, up 118 percent from a year ago.
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