The USDA released it’s June Acreage and Stocks report on Friday, with soybean acres coming in at record levels. Soybean planted area for 2017 is estimated at a record high 89.5 million acres, up 7 percent from last year. Corn planted area for all purposes in 2017 is estimated at 90.9 million acres, down 3 percent from last year. Area harvested for grain, at 83.5 million acres, is down 4 percent from last year. All wheat planted area for 2017 is estimated at 45.7 million acres, down 9 percent from 2016. This represents the lowest all wheat planted area on record since records began in 1919. All cotton planted area for 2017 is estimated at 12.1 million acres, 20 percent above last year. Corn stocks in all positions on June 1, 2017, totaled 5.23 billion bushels, up 11 percent from June 1, 2016. Of the total stocks, 2.84 billion bushels are stored on farms, up 15 percent from a year earlier. Soybeans stored in all positions on June 1, 2017, totaled 963 million bushels, up 11 percent from June 1, 2016. On-farm stocks totaled 333 million bushels, up 18 percent from a year ago. Old crop all wheat stored in all positions on June 1, 2017, totaled 1.18 billion bushels, up 21 percent from a year ago.
From the National Association of Farm Broadcasting News Service.
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