WASHINGTON, June 30 (Reuters) – U.S. farmers could harvest 13.2 billion
bushels of corn, the Agriculture Department’s annual report on plantings
indicated on Wednesday, implying harvest could be 1 percent smaller than its
forecast earlier this month, but still narrowly topping last year’s record.
Soybean harvest could be 3.3 billion bushels, up 1 percent from USDA’s June
10 estimate, based on Reuters calculations using USDA’s projections of harvest
acres and yields.
Corn end stocks for 2010/11 would be 1.447 billion bushels and soybeans
would be 397 million bushels, based on USDA’s June 10 projection of beginning
stocks, imports and total use and this year’s implied harvest.
But those factors could change. USDA also said on Wednesday that stocks of
old-crop corn on June 1 were 6 percent less than traders had expected ahead of
the report, and stocks of old-crop soybeans were 4 percent below expectations.
The plantings report also implied a harvest of 2.1 billion bushels of
wheat, up 2.5 percent from previous estimates, according to Reuters
calculations.
USDA will update its projections of crop production and end stocks on July
9 to incorporate the figures from the acreage report.
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