Allendale, Inc. Releases Prospective Plantings and Quarterly Grain Stocks Estimates
A 7.2 million acre decrease in corn acres is forecasted by Allendale Inc.
This decline is the largest since the 7.4 million acre reduction in 1995 plantings.
Our estimate of 86.438 million is the second largest in the post 1950 period.
Our second quarter corn stocks estimate implies a usage of 3.252 billion bushels.
That is a record second quarter usage.
March 1 stocks are the largest since March 1, 1988 when 7.636 billion in stocks were reported.
A 10.6 million acre increase in soybean plantings is forecast.
This would be the largest one year jump ever.
The 74.239 million acre estimate represents the fourth largest soybean acreage ever.
Our 2nd quarter soybean stocks estimate implies a usage of 1.040 billion bushels.
That is record usage not just for the second quarter but any quarter.
Five year average second quarter use is 873 million bushels. March 1 stocks are the smallest second quarter numbers in four years.
A 1.9 million acre increase in total wheat acres is forecast.
That is the largest since 2000 when 62.549 million acres were planted.
Our third quarter wheat stocks estimate implies a usage of 481 million bushels.
That is the largest third quarter usage in four years.
The five year average usage is 435 million bushels.
The March 1 stocks estimate of 647 million bushels is a record low.
Allendale Inc has released the following estimates for Monday’s (03/31/08) USDA reports.
Quarterly Stks & Prospective Plantings due 7:30 AM CT 03/31/08
Actual Prospective Plantings in Million Acres ... Allendale ... Actual 2007
Corn ... 86.438 ... 93.600
Soybeans ... 74.239 ... 63.631
All Wheat ... 62.330 ... 60.433
Winter Wheat ... 46.670 ... 44.987
Durum ... 2.140 ... 2.149
Other Spring ... 13.520 ... 13.297
Quarterly Grain Stocks in Billion Bushels ... Allendale ... Actual 12/07 ... Actual 03/07
Wheat ... .647 ... 1.128 ... .857
Corn ... 7.017 ... 10.269 ... 6.068
Beans ... 1.290 ... 2.329 ... 1.787
For more information, contact Joe Victor or Rich Nelson at 800-262-7538 USA or 800-551-4626 Canada.
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- Farm Bill Debate Grows as Veto Looms (Delta Farm Press)
- Steel Industry Again Showing Strong Growth (USA Today)
- 557 Groups Call on Congress to Pass Farm Bill
- World Rice to Reach Record Production, But Prices to Remain High in Short Term (Southwest Farm Press)
- Land O'Lakes Reports First-Quarter Net Earnings of $61.3 Million, Up 16.4% Over First-Quarter 2007
