Thursday’s USDA report showed record soybean acreage.
NASS estimates soybean planted area is at a record high 83.7 million acres, up 1 percent from last year. U.S. growers, aided by favorable weather conditions, increased or maintained their 2015 acreage in 18 out of the 31 major producing states. U.S. corn growers also benefited from the excellent field conditions this year, increasing their acreage from last year by 7 percent to 94.1 million acres, making it the third highest corn planted acreage since 1944.
In Illinois, corn planted area, at 11.7 million acres, is unchanged from 2015. Harvested area for grain, at 11.5 million acres, is also unchanged from last year. Soybean planted area, at 9.90 million acres, is up 1 percent from 2015. This represents the highest planted acreage since 2006. Harvested area, forecast at 9.84 million acres, is up 1 percent from the previous year. For winter wheat, planted area for 2016, estimated at 560,000 acres, is up 4 percent from 2015. Area harvested for grain is forecast at 520,000 acres, unchanged from the previous year.
Illinois corn stocks in all positions on June 1, 2016 totaled 689 million bushels, down 19 percent from June 1, 2015. On-farm stocks totaled 270 million bushels, while off-farm stocks totaled 419 million bushels. The March - May 2016 indicated disappearance is 590 million bushels. Soybean stocks in all positions on June 1, 2016 totaled 142 million bushels, up 52 percent from June 1, 2015. On-farm stocks totaled 44.0 million bushels, while off-farm stocks totaled 97.9 million bushels. The March - May 2016 indicated disappearance is 97.5 million bushels.