WASHINGTON — The U.S. Department of Agriculture in its annual Acreage report on June 29 estimated all wheat planted for harvest in 2018 at 47,821,000 acres, up 1% from the March Prospective Plantings forecast and up 4% from 2017, but still the second lowest in records that began in 1919, after only last year’s record low. Harvested area was forecast at 39,571,000 acres, down 5% from a year ago.
Winter wheat planted area was estimated at 32,732,000 acres, up slightly from last year but the third lowest area on record (including hard red winter at 23.2 million and soft red winter at 5.89 million), durum at 1,887,000 acres, down 18%, and other spring wheat at 13,202,000 acres, up 20% (including hard red spring at 12.7 million). Harvested area for winter wheat was forecast at 24,831,000 acres, down 2% from 2017 and the lowest area on record, with durum at 1,841,000 acres, down 14%, and spring wheat other than durum at 12,899,000 acres, up 27%.
The U.S.D.A. estimated 2018 area planted to corn at 89,128,000 acres, down 1% from 2017. Harvested area was forecast at 81,770,000 acres, also down 1%.
Soybean planted area was estimated at 89,557,000 acres, down 1% from 2017, with harvested area forecast at 88,862,000 acres, down 0.7%.
The U.S.D.A. estimates for corn and all wheat were above the average of trade expectations, but soybean and durum estimates were below the trade averages.
The U.S.D.A., in its Grain Stocks report, estimated June 1 old-crop all wheat stocks at 1,100 million bus, down 7% from June 1, 2017, including 130 million bus on farms, down 32%, and 970 million bus off farms, down 2%. Durum stocks were 35.9 million bus, down 1%.
Corn stocks in all positions on June 1 were estimated at 5,306 million bus, up 1% from a year earlier, including 2,750 million bus on farms, down 3%, and 2,556 million bus off farms, up 7%.
Soybean stocks on June 1 were estimated at 1,222 million bus, up 26% from last year, with on-farm stocks at 377 million bus, up 13%, and off-farm stocks at 845 million bus, up 33%.
U.S.D.A. corn, soybean and wheat stocks estimates all were slightly above the average of trade expectations.
Wheat, corn and soy complex futures all traded higher after the reports, with winter wheat contracts up about 20c a bu, soybeans up about 10c, and corn and spring wheat up about 5c.