- DTN Headline News
USDA Reports Summary
Thursday, June 30, 2022 12:18PM CDT

This article was originally posted at 11:05 a.m. CDT. It was updated at 12:17 p.m.

**

OMAHA (DTN) -- USDA on Thursday released its Acreage and June 1 Quarterly Grain Stocks reports.

Farmers planted 89.9 million acres of corn in 2022 and 88.3 million acres of soybeans. The corn estimate is higher than USDA's March estimate, while soybean acreage is lower. Both are within the range of pre-report estimates.

According to DTN Lead Analyst Todd Hultman, USDA's new planting estimates are neutral for new-crop corn and wheat, and a little bullish for new-crop soybeans. Hultman thinks Thursday's Grain Stocks report was neutral for corn and soybeans and wheat.

Stay tuned throughout the morning and refresh this page often as we will be sending a series of updates with the important highlights from today's reports, including commentary from our analysts.

You can also access the full reports here:

For DTN's exclusive audio comments on today's reports, visit: http://listen.aghost.net/…

-- Crop Production: https://www.nass.usda.gov/…

ACREAGE REPORT

USDA said farmers planted 89.92 million acres (ma) of corn this spring, up from its March estimate of 89.49 ma. The acreage estimate is 4%, or 3.44 ma, lower than last year as USDA said acreage is down or unchanged in 35 of the 48 states it tracks. Area harvested for grain if forecast at 81.9 ma.

Farmers sowed 88.33 ma of soybeans this spring, 2.63 ma less than USDA's 90.96 ma forecast in March. Overall planted acreage is 1% higher than last year, with farmers planting more or an equal number of acres in 24 of the 29 estimating states.

All wheat acres for 2022 came in estimated at 47.09 ma, up 1% from 2021. While acreage is higher, 2022 still marks the fifth-lowest acreage since records began in 1919.

Winter wheat acres are projected at 34 million, up 1% from last year, though still slightly below the pre-report average.

Of that total, about 23.5 ma are hard red winter; soft red winter accounts for 6.86 ma; and 3.61 ma are white winter wheat.

Spring wheat acreage was reported at 11.11 million acres, down 3% from 2021, but higher than the pre-report average estimate. Of that total, 10.4 ma are hard red spring wheat.

Durum wheat acres came in at 1.98 million acres, up 21% from last year.

QUARTERLY GRAIN STOCKS

Corn stocks in all positions on June 1, 2022, totaled an estimated 4.35 billion bushels (bb), up 6% from June 1, 2021, exceeding pre-report estimates.

Of the total stocks, 2.12 bb are stored on farms, up 22% from a year earlier. Off-farm stocks, at 2.23 bb, are down 6% from a year ago. The March to May 2022 indicated usage is 3.41 bb, compared with 3.58 bb during the same period last year.

Soybeans stored in all positions on June 1, 2022, totaled 971 million bushels, up 26% from June 1, 2021, also exceeding pre-report estimates. On-farm stocks totaled 331 million bushels (mb), up 51% from a year ago. Off-farm stocks, at 640 mb, are up 17% from a year ago. Indicated usage estimates for the March to May 2022 quarter totaled 960 mb, up 21% from the same period a year earlier.

Old crop all wheat stored in all positions on June 1, 2022, totaled 660 mb, exceeding pre-report estimates but down 22% from a year ago. On-farm stocks are estimated at 93.0 mb, down 34% from last year. Off-farm stocks, at 567 mb, are down 19% from a year ago. The March to May 2022 indicated usage is 364 mb, down 22% from the same period a year earlier.

**

Editor's Note: Join DTN Lead Analyst Todd Hultman at 12:30 p.m. CDT on Thursday, June 30, for a look at what the day's numbers mean for grain prices. To register, visit: https://ag.dtn.com/…

QUARTERLY STOCKS (million bushels)
6/1/22 Avg High Low 6/1/21 3/1/22
Corn 4,346 4,330 4,474 4,095 4,111 7,850
Soybeans 971 959 1,100 740 769 1,931
Wheat 660 655 670 635 845 1,025
ACREAGE (million acres) USDA USDA
6/30/22 Average High Low 3/30/22 2021
Corn 89.92 89.69 90.50 88.40 89.49 93.36
Soybeans 88.33 90.43 92.40 89.20 90.96 87.20
All Wheat 47.09 46.89 47.50 46.30 47.35 46.70
Winter 34.01 34.23 34.40 34.20 34.24 33.65
Spring 11.11 10.81 11.50 10.40 11.20 11.42
Durum 1.98 1.84 2.00 1.70 1.92 1.64

blog iconDTN Blogs & Forums
DTN Market Matters Blog
Editorial Staff
Friday, July 1, 2022 11:26AM CDT
Monday, June 27, 2022 2:31PM CDT
Friday, June 24, 2022 12:08PM CDT
Technically Speaking
Editorial Staff
Tuesday, July 5, 2022 10:18AM CDT
Tuesday, July 5, 2022 10:18AM CDT
Monday, June 27, 2022 1:45PM CDT
Fundamentally Speaking
Joel Karlin
DTN Contributing Analyst
Friday, July 1, 2022 8:20AM CDT
Wednesday, June 29, 2022 11:32AM CDT
Tuesday, June 28, 2022 10:35AM CDT
DTN Ag Weather Forum
Bryce Anderson
DTN Ag Meteorologist and DTN Analyst
Wednesday, July 6, 2022 2:02PM CDT
Wednesday, July 6, 2022 2:02PM CDT
Wednesday, July 6, 2022 2:00PM CDT
DTN Production Blog
Pam Smith
Crops Technology Editor
Thursday, June 23, 2022 10:53AM CDT
Friday, June 3, 2022 3:53PM CDT
Tuesday, May 24, 2022 2:42PM CDT
South America Calling
Editorial Staff
Thursday, June 30, 2022 10:27AM CDT
Thursday, June 9, 2022 11:47AM CDT
Thursday, June 2, 2022 3:45PM CDT
An Urban’s Rural View
Urban Lehner
Editor Emeritus
Tuesday, July 5, 2022 1:10PM CDT
Friday, June 17, 2022 1:12PM CDT
Wednesday, June 8, 2022 1:29PM CDT
Machinery Chatter
Dan Miller
Progressive Farmer Senior Editor
Tuesday, June 28, 2022 5:00AM CDT
Monday, June 13, 2022 4:30PM CDT
Friday, June 3, 2022 11:45AM CDT
Canadian Markets
Cliff Jamieson
Canadian Grains Analyst
Tuesday, July 5, 2022 3:27PM CDT
Thursday, June 30, 2022 3:25PM CDT
Wednesday, June 29, 2022 3:03PM CDT
Editor’s Notebook
Greg D. Horstmeier
DTN Editor-in-Chief
Friday, June 24, 2022 2:31PM CDT
Thursday, June 23, 2022 4:02PM CDT
Thursday, April 28, 2022 2:31PM CDT
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN