The U.S. Department of Agriculture Acreage report has estimated 2016 corn planted area for all purposes to be 94.1 million acres, up 7 percent from 2015, which is the third highest planted acreage in the United States since 1944.USDA’s Grain Stocks report estimated corn stocks in all positions on June 1 totaled 4.72 billion bushels, up 6 percent from June 1, 2015.
USDA estimated soybean planted area for 2016 at a 83.7 million acres, up 1 percent from last year, but lower than the 83.8 million acres analysts, on average, were expecting. Area for harvest, at 83.0 million acres, is also up 1 percent from 2015 and would be a record high, if realized.
