Agricultural News
Allendale's Rich Nelson Says No Change for Oklahoma Wheat Acres, but Cotton Up on Prospective Plantings Report
Thu, 31 Mar 2022 16:10:23 CDT
USDA on Thursday released its Prospective Plantings and March 1 Grain Stocks reports.
USDA sees farmers planting 91 million acres (ma) of soybeans, a new record, while corn acreage is forecast to fall 4% from last year to 89.5 ma.
You can also access the full reports here:
Farm Director, KC Sheperd spoke with Allendale's Rich Nelson and he said he was somewhat surprised by the new crop Wheat Planting numbers, "The real focus from this report is the spring wheat discussion. The Surprise that was USDA asserted that crops across the board suggested a net decline in North Dakota Acreage, 360,000 acres so we did see some surprises across the board."
Nelson says the widespread drought across the country will also affect numbers going forward, "We have not just a concern about fertilizer availability which we all understand, but on top of that we have a forecast for spring dryness to return mid-April for Texas up through Kansas. On top of that we already have carry-in dryness for much of the western corn belt for the midwest discussion. So the overall concern is Number 1, we don't have forecast for spring rains, and Number 2, USDA and other weather government agencies are joining the private forecasters and suggesting summer dryness as well."
For Oklahoma 4.4 Million Acres of Wheat was reported, No change from last year. On Soybeans 580,000 acres was reported, down 20,000 acres from last year. Corn was reported at 340,000 acres, down 40,000 acres from last year. Cotton had 530,000 acres, 35,000 more than last year. Peanuts reported 13,000 acres, down 3,000 from last year, Grain Sorghum showed 420,000 acres down 10,000 acres from last year, and Canola had 19,000 acres, up 7,000 acres from last year.
To hear the complete conversation between KC and Nelson, click or tap below. You can also get more of Allendale's Premium content by clicking here:
PROSPECTIVE PLANTINGS
USDA sees farmers planting 91 ma of soybeans, a new record, while corn acreage is forecast to fall 4% from last year to 89.5 ma.
For corn, USDA said planted acreage is expected to be down or unchanged in 43 of the 48 states, resulting in 3.87 ma fewer acres planted to corn than last year. It's the lowest acreage estimate in five years.
For soybeans, USDA's record estimate is 4% higher than last year, with acreage up or unchanged in 24 states.
USDA pegged all wheat acres at 47.4 ma, up 1% from last year and in line with pre-report analyst estimates. If realized, this would be the fifth lowest all wheat planted acres since records began in 1919.
Of that, winter wheat was estimated to hit 34.2 ma, up 2% from last year. Within those acres, hard red winter acres are projected at 23.7 ma, with 6.89 ma going to soft red winter and 3.62 ma are white winter wheat.
All other spring wheat was projected to reach 11.2 ma, down 2% from last year, with durum accounting for 1.92 ma, up 17% from the previous year.
Farmers intend to plant 6.21 ma to sorghum this year, 15% less than last year. Acreage is down significantly in Kansas and Texas.
Barley acreage is expected to increase 11% to 2.94 million acres, with Montana's crop covering 12% more land than last year.
Sunflower acreage is expected to increase 10%. While it's up from last year, it represents the fifth lowest planted area on record.
QUARTERLY GRAIN STOCKS
Corn stored in all positions on March 1, 2022, totaled 7.85 billion bushels (bb), up 2% from March 1, 2021, but slightly below the pre-report average.
Of total stocks, 4.08 bb are stored on farms, up 1% from the same quarter a year ago.
Off-farm stocks are reported at 3.77 bb, up 3% from a year ago. The December 2021-February 2022 disappearance (usage) is reported at 3.79 bb, compared with 3.6 bb for the same period last year.
Soybeans stored in all positions on March 1 totaled 1.93 bb, up 24% from March 1, 2021. Soybeans stored on farms are estimated at 750 billion bushels, up 26% from a year ago. Off-farm stocks are reported at 1.18 bb, up 22% from last March. Disappearance from December 2021-February 2022 totaled 1.22 bb, down 12% from the same period last year.
All wheat stored in all positions on March 1 totaled 1.02 bb, down 22% from a year ago. The wheat stocks for March 1 came in at the lowest level in 14 years. On-farm stocks are estimated at 174 million bushels, down 39% from the same period last year. Off-farm stocks are reported at 850 million bushels, down 17% from a year ago. The December 2021-February 2022 disappearance is pegged at 353 million bushels, down 10% below the same period a year ago.
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