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THE VIEWS AND OPINIONS EXPRESSED IN THIS REPORT ARE SOLELY THOSE OF THE USDA. THESE VIEWS AND OPINIONS DO NOT NECESSARILY REPRESENT THOSE OF DANIELS TRADING, ITS STAFF OR ANY CONTRIBUTORS. THE ACCURACY AND VALIDITY OF THE VIEWS AND OPINIONS STATED IN THIS PIECE HAVE NOT BEEN VERIFIED.
|Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a breakout of FSI corn uses, see Feed Outlook table 5 or access the data on the Web through the Feed Grains Database at www.ers.usda.gov/data-products/feed-grains-database.aspx. 3/ Corn processed in ethanol plants to produce ethanol and by-products including distillers' grains, corn gluten feed, corn gluten meal, and corn oil. 4/ Marketing-year weighted average price received by farmers. * For June, corn area was lowered from the March 29, 2019 "Prospective Plantings" reflecting delayed planting progress observed during the month of May and into early June. For July, corn area planted and harvested as reported in the June 28, 2019, "Acreage." Projected yield is based on a weather-adjusted trend assuming normal summer growing season weather, lowered to reflect the impact of delayed planting progress observed during the month of May and into early June.|
|Area Planted||90.2||89.1||89.8 *||91.7 *||1.9|
|Area Harvested||82.7||81.7||82.4 *||83.6 *||1.2|
|Yield per Harvested Acre||176.6||176.4||166.0 *||166.0 *||0|
|Million Metric Tons|
|Feed and Residual||5,304||5,275||5,150||5,175||25|
|Food, Seed & Industrial 2/||7,057||6,880||6,950||6,930||-20|
|Ethanol & by-products 3/||5,605||5,450||5,500||5,500||0|
|Stocks to Use ***||14.46||16.42||11.75||14.1||2.35|
|Avg. Farm Price ($/bu) 4/||3.36||3.60||3.80||3.70||-0.1|
|Note: Totals may not add due to rounding. Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and soybean meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; oil, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decatur. 3/ Reflects only biodiesel made from methyl ester as reported by the U.S. Energy Information Administration. 4/ Based on an October year crush of 2,085 million bushels for 2018/19 and 2,115 million bushels for 2019/20. *Planted acres are reported in the March 29, 2019 Prospective Plantings report. Harvested acres are based on the 5-year average harvested-to-planted ratio. The projected yield is based on a weather-adjusted trend model. **Planted and harvested acres are from the June 28, 2019 Acreage report. The projected yield is based on a weather-adjusted trend model and reflects the impact of delayed planting.|
|Area Planted||90.2||89.2||84.6 *||80.0 **||-4.6|
|Area Harvested||89.5||88.1||83.8 *||79.3 **||-4.5|
|Yield per Harvested Acre||49.3||51.6||49.5 *||48.5 **||-1|
|Stocks to Use ***||10.19||26.59||24.91||19.3||-5.61|
|Avg. Farm Price ($/bu) 2/||9.33||8.50||8.25||8.40||0.2|
|Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. * For June, planted acres reported in the March 29, 2019, "Prospective Plantings." Winter wheat area harvested and yield reported in the June 11, 2019, "Crop Production." Area harvested and yield for other spring wheat and durum projected using 10-year harvested-to-planted ratios by state and 1985-2018 yield trends by state (except for Arizona, California, and Idaho durum). For July, area planted, area harvested, yield, and production as reported in the July 11, 2019, "Crop Production."|
|Area Planted||46.1||47.8||45.8 *||45.6||-0.2|
|Area Harvested||37.6||39.6||39.0 *||38.4||-0.6|
|Yield per Harvested Acre||46.4||47.6||48.7 *||50.0||1.3|
|Feed and Residual||47||91||140||150||10|
|Stocks to Use ***||55.48||52.39||51.71||46.88||-4.83|
|Avg. Farm Price ($/bu) 2/||4.72||5.16||5.10||5.20||0.1|
|Crop||USDA Jul||USDA Jun||Change**|
|Crop||USDA Jul||USDA Jun||Change**|
All information is sourced from The United States Department of Agriculture’s USDA.gov website.
** The "Change" column is calculated by subtracting the previous month’s projections from the current month’s projections.
*** The "Stocks to Use" row is calculated by dividing "Ending Stocks" by "Use, Total".
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