Wednesday, June 30, 2021

Ag Commodities: USDA Annual Acreage Report, June 30, 2021 FIREWORKS!

The big three futures were fading going into the reports and have reversed dramatically.

From the USDA:

Released June 30, 2021, by the National Agricultural Statistics Service 
(NASS), Agricultural Statistics Board, United States Department of 
Agriculture (USDA).

Corn Planted Acreage Up 2 Percent from 2020
Soybean Acreage Up 5 Percent
All Wheat Acreage Up 5 Percent
All Cotton Acreage Down 3 Percent

Corn planted area for all purposes in 2021 is estimated at 92.7 million 
acres, up 2 percent or 1.87 million acres from last year. Compared with last 
year, planted acreage is expected to be up or unchanged in 28 of the 
48 estimating States. Area harvested for grain, at 84.5 million acres, is up 
2 percent from last year.

Soybean planted area for 2021 is estimated at 87.6 million acres, up 
5 percent from last year. Compared with last year, planted acreage is up or 
unchanged in 28 of the 29 estimating States.

All wheat planted area for 2021 is estimated at 46.7 million acres, up 
5 percent from 2020. This represents the fourth lowest all wheat planted area 
since records began in 1919. The 2021 winter wheat planted area, at 
33.7 million acres, is up 11 percent from last year and up 2 percent from the 
previous estimate. Of this total, about 23.6 million acres are 
Hard Red Winter, 6.59 million acres are Soft Red Winter, and 3.50 million 
acres are White Winter. Area expected to be planted to other spring wheat for 
2021 is estimated at 11.6 million acres, down 5 percent from 2020. Of this 
total, about 10.8 million acres are Hard Red Spring wheat. Durum planted area 
for 2021 is expected to total 1.48 million acres, down 12 percent from the 
previous year....
....MUCH MORE