Today’s Grain Stocks report from USDA shows corn stocks are down 15% from June 2010 while soybean stocks are up 8%. All wheat stocks are down 12%. The Acreage report showed corn planted acreage up 5% from last year, and soybean acreage down 3%. All wheat acreage is up 5%.

Corn

Corn stocks in all positions on June 1, 2011 totaled 3.67 billion bushels, down 15% from June 1, 2010. Of the total stocks, 1.68 billion bushels are stored on farms, down 21% from a year earlier. Off-farm stocks, at 1.99 billion bushels, are down 9% from a year ago. The March-May 2011 quarter indicated disappearance is 2.85 billion bushels, compared with 3.38 billion bushels during the same period last year.

Corn planted area for all purposes in 2011 is estimated at 92.3 million acres, up 5% from last year, and the second-highest planted acreage in the U.S. since 1944, behind only the 93.5 million acres planted in 2007. Growers expect to harvest 84.9 million acres for grain, up 4% from last year.

Soybeans

Soybeans stored in all positions on June 1, 2011 totaled 619 million bushels, up 8% from June 1, 2010. On-farm stocks totaled 218 million bushels, down 6% from a year ago. Off-farm stocks, at 401 million bushels, are up 19% from a year ago. Indicated disappearance for the March-May 2011 quarter totaled 630 million bushels, down 10% from the same period a year earlier.

Soybean planted area for 2011 is estimated at 75.2 million acres, down 3% from last year. Area for harvest, at 74.3 million acres, is also down 3% from 2010. Record-high planted acreage is estimated in New York and North Dakota.

Wheat

All wheat stored in all positions on June 1, 2011 totaled 861 million bushels, down 12% from a year ago. On-farm stocks are estimated at 131 million bushels, down 38% from last year. Off-farm stocks, at 730 million bushels, are down 5% from a year ago. March-May 2011 indicated disappearance is 565 million bushels, up 48% from the same period a year earlier.

All wheat planted area is estimated at 56.4 million acres, up 5% from 2010. The 2011 winter wheat planted area, at 41.1 million acres, is up 10% from last year. Of this total, about 29.1 million acres are hard red winter, 8.3 million acres are soft red winter and 3.7 million acres are white winter. Area planted to other spring wheat for 2011 is estimated at 13.6 million acres, down 1% from 2010. Of this total, about 12.9 million acres are hard red spring wheat. Durum planted area for 2011 is estimated at 1.70 million acres, down 34 percent from the previous year. Flooding in the Dakotas reduced acres planted to other spring and durum wheat.