Market News

USDA baseline numbers show record 2014 corn crop

USDA’s 2014 prospective planting report for corn and soybeans is still about a month and a half away, but if USDA’s baseline projections hold, we’ll see a record corn crop and a large soybean crop.

USDA projects corn acreage at 93.5 million acres with a crop of 14.2 billion bushels and ending stocks for the 2014/15 marketing year at 2.607 billion bushels. Soybean planting is estimated at 78 million acres with production at 3.4 billion bushels and ending stocks at 203 million bushels. Wheat is seen at 57 million acres with a crop of 2.22 billion bushels and ending stocks of 642 million bushels.

USDA’s official prospective planting numbers are out March 31.