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Allendale Expects USDA Will Lower Acreage

Allendale Expects USDA Will Lower Acreage

07 October 2014
Allendale Inc.

ANALYSIS - Analysts at Allendale Inc. expect to see USDA lower acreage in Friday's reports.

Corn

Old crop stocks are revised to the September 30 Grain Stocks level. A 325,000 decrease in planted acreage was made (91.316 million now) for 2014/15. Harvested acreage is 267,000 lower than September USDA (83.572). Yields have been increased to 175.5 for this report.

Soybeans

Old crop stocks are revised to the September 30 Grain Stocks report. A 502,000 decrease in planted acreage was made (84.337 million now). Harvested is lowered by 480,000 to 83.578 million. Yields have been increased to 48.0 for this report. Despite an increase in new crop production of 102 million we have lower ending stocks due to smaller 2013/14 ending stocks and greater new crop demand than USDA September.

Wheat

Production has been revised to the September 30 Small Grains Summary.

Allendale Supply, Demand Estimates

TheCropSite News Desk

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