Farmers will plant 89.252 million acres (36.119 million hectares) with corn, according to the average estimate of 14 analysts in the survey. That is 0.5% more than farmers said they intended to plant in March and up 3.2% from 86.482 million acres in 2009. The USDA will update its crop acreage estimates on Wednesday (June 30).

 

The area planted with soy will total 78.161 million acres, up from 78.1 million forecast in March and a 0.9% increase from last year's 77.451 million, according to the survey. Farmers are wrapping up planting of the soy crop after wet weather delayed seeding. Corn and spring wheat seeding were completed earlier this month.

 

In the survey, analysts said 13.721 million acres were probably planted with spring wheat, down 1.3% from the government's March forecast and 3.4% more than the 13.268 million acres sown last year. The estimate for durum wheat may rise to 2.241 million acres from 2.22 million in the March forecast, and falling from 2.554 million last year, according to the analysts.

 

The USDA on Wednesday (June 30) will also release quarterly estimates for grain and oilseed stocks.

 

Corn inventories on June 1 were 4.624 billion bushels, up 8.3% from a year earlier, according to the average estimate of eight analysts.

 

Soy inventories came to 592 million bushels, the analysts said. That is down 1.5% from 597 million a year earlier.