30 minutes away, so thought I'd start the thread. My bet is the acreage numbers are bigger than expected. However, considering the survey is in early June and flooding is getting worse, we won't know the true story for another 2 months.
You need to get out more...going to Chicago doesn't count. Many acres were planted just because of the crop insurance guarentees, with no real hopes of a harvest or proper fertilizer program. But the acres will count in June, just will never amount to much or be harvested.
Corn stocks in all positions on June 1, 2011 totaled 3.67 billion bushels, down 15 percent from June 1, 2010. Of the total stocks, 1.68 billion bushels are stored on farms, down 21 percent from a year earlier. Off-farm stocks, at 1.99 billion bushels, are down 9 percent from a year ago. The March - May 2011 indicated disappearance is 2.85 billion bushels, compared with 3.38 billion bushels during the same period last year.
Soybeans stored in all positions on June 1, 2011 totaled 619 million bushels, up 8 percent from June 1, 2010. On-farm stocks totaled 218 million bushels, down 6 percent from a year ago. Off-farm stocks, at 401 million bushels, are up 19 percent from a year ago. Indicated disappearance for the March - May 2011 quarter totaled 630 million bushels, down
10 percent from the same period a year earlier.
All wheat stored in all positions on June 1, 2011 totaled 861 million bushels, down 12 percent from a year ago. On-farm stocks are estimated at 131 million bushels, down 38 percent from last year. Off-farm stocks, at 730 million bushels, are down 5 percent from a year ago. The March - May 2011 indicated disappearance is 565 million bushels, up 48 percent from the same period a year earlier.
Otherwise, how come the data on acreage? Perhaps the amount of seed sold by seed houses? Someone probably bought the seeds, but whether it has sown? ..
Maybe my eyes aren't working right but it looks like more acres than last year in Ohio and the Dakotas. I just don't see how that can be from what I have heard.
I'm pretty sure they are smoking their socks on the Dakota #s Many, Many, Many of those acres are going to be recreational combine driving I was up there two and a half weeks ago and most of the acres were planted just are NOT going to make anything in South Dakota. Not all acres were bad but 75% were hurt and 25% were as good as failed.
Markets are not governed any more by reality. It is an opportunity and driven by the big speculators. they drive up markets , then dump a bunch of contracts to make billlions. think soros.
I just threw my rose colored glasses into the trash compactor. Just when I thought we might be able to start trusting USDA to get it right they throw us an out of the ball park corn acres number. 92.3 million acres of corn planted? Does this include the deductions from river flooding and preventative plant claims? Ar there that many farmers lieing to us on this forum about how many acres they didn't plant. Are they using estimated seed sales and forgetting to back out the seed sold for replant?
Or are they assuming they will make it up by lowering the average acre yield to 150? I have too many questions after reading the report this morning.
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