(Posted Tue. Mar 31st, 2015)
American farmers expect to plant 1.4 million fewer acres of corn in 2015, a two percent decrease from 2014, according the U.S. Department of Agriculture’s Prospective Plantings report released today. If realized, total corn plantings in the United States would total 89.2 million acres for the lowest planted acreage since 2010. Notably, it would still be the sixth-largest U.S. corn acreage planted since 1944.
“U.S. farmers produced a record crop in 2014 with supplies abundant enough to meet all needs and provide an ample carry over into 2015,” National Corn Growers Association President Chip Bowling said. “While many factors may change the reality on the ground as planting progresses, Americans can rest assured that generous stockpiles and adequate plantings will ensure our corn security for the year to come.”
The USDA’s estimate for 2015 is for 89.2 million acres to be planted in field corn. Assuming the five-year average 91.4 percent harvest rate and the projected 25-year trend yield of 162.3 bushels per acre is achieved, farmers will harvest 13.23 billion bushels.
Of the major corn-producing states, the largest percentage increases in planted acreage are expected to be in Minnesota, North Carolina, Wisconsin, Texas and Maryland. The major corn-producing states with the largest decreases in percentage of acres planted in relation to 2014 South Dakota, Missouri, Colorado, Ohio and North Dakota.
In the Grain Stocks report, also released this morning, USDA shows corn stocks in all positions stood at more than7.74 billion bushels on March 1, 2015, up 11 percent from the same time last year. Both figures for on- and off-farm corn in storage stood higher than at this time last year, up 13 and 7 percent respectively. In total, USDA shows 3.47 billion bushels of corn used between December and February, compared with 3.44 over the same period in 2014.
For the full Prospective Plantings report, click here.
For the full Grain Stocks report, click here.