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Crop Report: USDA acreage report issues on June 30 shows far less corn than many market analysts predicted, and more soybean plantings. The focus now turns to weather conditions, especially for corn and soybeans, where June 1 stocks estimates both came in lower than the average trade guess.

Corn planted area for all purposes in 2010 is estimated at 87.9 million acres (avg. trade guess: 89.23 mil. ac.), up 2% from last year. The largest increases in planted acreage compared to last year are reported in Illinois and Kansas, both up 600,000 acres from 2009. Other notable increases were shown in Indiana, up 400,000 acres; Missouri, up 300,000 acres; and Ohio, up 250,000 acres. The largest decrease in planted acreage is reported in Iowa, down 400,000 acres, while both Nebraska and South Dakota are down 350,000 acres from the previous year.

Soybean planted area for 2010 is estimated at a record high 78.9 million acres (avg. trade guess: 78.18 mil. ac.), up 2% from last year. Area for harvest, at 78.0 million acres, is also up 2% from 2009, and will be the largest harvested area on record, if realized. Compared with last year, planted acreage increased by 300,000 acres or more in Iowa, Kansas, Minnesota, and Nebraska. The states with the largest declines compared with last year are Arkansas, down 270,000 acres, and North Carolina, down 250,000 acres. Record high planted acreage is estimated in Kansas, Nebraska, New York, and Pennsylvania, and planted area will tie the previous record high in Minnesota and Oklahoma.

All wheat planted area is estimated at 54.3 million acres (avg. trade guess: 53.83 mil. ac.), down 8% from 2009. This is the lowest US total since 1971. The 2010 winter wheat planted area, at 37.7 million acres, is 13% below last year. Of this total, about 28.5 million acres are hard red winter, 5.8 million acres are soft red winter, and 3.4 million acres are white winter. Area planted to other spring wheat for 2010 is estimated at 13.9 million acres, up 5% from 2009. Of this total, about 13.3 million acres are hard red spring wheat.

All cotton plantings for 2010 are estimated at 10.9 million acres (avg. trade guess: 10.85 mil. ac.), 19% above last year. Upland planted area is estimated at 10.7 million acres, up 19% from 2009. Increased planted acres are expected in all States except Louisiana, where acres are unchanged from last year’s record low. In Alabama, California, Mississippi, North Carolina, South Carolina, and Tennessee, planted acreage increased over 30% with California experiencing the largest percentage gain with a 76% increase.