Milling & Baking News - July 14, 2020 - 16

Data

Corn, wheat, soybean acreage in
2020 below trade expectations
the reports with the largest gains
posted in Minneapolis spring wheat
futures.
The USDA, in its Grain Stocks report, estimated June 1 old-crop all

Winter

in million bus

92.006**

96.990*

89.700

Other spring

Durum

50
40
30
20
10
0

2009

2010

2011

2012

2013

2014

Source: US Department of Agriculture

wheat stocks, which comprise the 2020
carryover, at 1,044 million bus, down
3.3% from June 1, 2019, including 232
million bus on farms, up 12%, and
812 million bus off farms, down 7%.
March-May indicated disappearance

2017 = 1,181

800
600
400
2008 = 306
'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

Milling & Baking News

88.871

US wheat by class planted area

1,000

16 / July 14, 2020

90.167

*March intention **June estimate

1,200

Source: US Department of Agriculture

94.004

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2020
Source: US Department of Agriculture

US wheat carryover

200

88.019

90.597

95.365

97.291 Record high

91.936

88.192

86.382

in million acres

US corn planted area

in million acres

WASHINGTON - The US Department
of Agriculture in its annual Acreage
report on June 30 estimated 2020 corn
planted area at 92,006,000 acres, down
5% from the March Prospective Plantings forecast but up 2.6% from 2019.
Harvested area was forecast at 84,023,000
acres, up 3.3% from a year ago.
Soybean planted area was estimated at 83,825,000 acres, up 0.4% from
March intentions and up 10% from
2019, with harvested area forecast at
83,020,000 acres, up 11% from last year.
All wheat area planted for harvest in
2020 was estimated at 44,250,000 acres,
down 0.9% from March, down 2% from
2019 and the lowest since USDA records began in 1919. Planted area compares with 44,655,000 acres in the June
USDA Crop Production report.
Winter wheat planted area was estimated at 30,550,000 acres, down 2%
from 2019, down 0.7% from the prior
estimate and the second lowest on record (including hard red winter at 21.5
million, soft red winter at 5.63 million
and white winter at 3.42 million), durum at 1,500,000 acres, up 12% from
last year, and spring wheat other than
durum at 12,200,000 acres, down 3.6%
from 2019 and down 3.1% from March
(including hard red spring at 11.5 million). Harvested area for winter wheat
was forecast at 23,439,000 acres, down
3.7% from 2019 and the lowest on record, with durum at 1,444,000 acres,
up 23%, and spring wheat other than
durum at 11,795,000 acres, up 1.2%.
USDA planted acreage estimates
noted above all were below the average
of trade expectations except for durum.
CME Group corn and soybean futures traded sharply higher after the
11 a.m. release of the reports. Kansas City, Chicago and Minneapolis
wheat futures also shot higher after

of wheat was 372 million bus, down
28% from the same period last year.
Durum stocks were 42.8 million bus,
down 22% from a year ago. MarchMay disappearance of durum was indicated at 8.55 million bus, down 56%
from last year.
Corn stocks in all positions on June
1 were estimated at 5,224 million

2015

2016

2017

2018

2019 2020*
*forecast

bus, up 0.4% from a year earlier, including 3,025 million bus on farms,
up 2.6%, and 2,199 million bus off
farms, down 2.4%. Indicated disappearance of corn during the MarchMay period was 2.73 billion bus,
down 20% from a year earlier.
Soybean stocks on June 1 were estimated at 1,386 million bus, down 22%
from last year, with on-farm stocks at
633 million bus, down 13%, and offfarm stocks at 753 million bus, down
28%. Indicated March-May soybean
disappearance of 869 million bus was
down 8% from the same period in 2019.
USDA wheat and soybean stocks
estimates were below the average
of trade expectations while the corn
estimate was above, although most
market impact from the latter was offset by the lower-than-expected corn
plantings estimate. MBN
bakingbusiness.com / world-grain.com

http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - July 14, 2020

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