By MICHELE F. MIHALJEVICH

Indiana Correspondent

WASHINGTON, D.C. — The USDA’s National Agricultural Statistics Service (NASS) had a busy Monday (Jan. 12) as the agency released updates on last year’s crop production, grain stocks and winter wheat acreage.

“This is the single largest input data day for the crop year,” said Brian Hoops, with Midwest Market Solutions. “Overall, the reports were bullish to wheat, bearish to soybeans and slight bullish to corn.”

Last year’s corn and soybean crops set several records, according to the NASS 2014 Crop Production report. Corn harvest was a record 14.2 billion bushels, up 3 percent from 2013’s revised numbers. The crop had a record average yield of 171 bushels per acre, up 12.9 from 2013.

Nationally, 83.1 million acres were harvested for grain, down 5 percent from 2013.

Soybeans had a record production of 3.97 billion bushels, up 18 percent from 2013. The average yield of 47.8 bushels per acre was also a record, and was up 3.8 percent from 2013. The harvested acreage of 83.1 million acres was up 9 percent over 2013, and is the highest amount on record, NASS stated.

For wheat, production was 1.38 billion bushels, a drop of 11 percent from 2013. The average yield of 42.6 bushels per acre was down 4.7, while planted acres dropped 1 percent, to 32.3 million.

The corn market could rally in the spring, as many analysts expect fewer planted acres, Hoops noted. Wheat acreage numbers were below market expectations, which could lead to a slightly friendlier market, while the record soybean yield number is considered neutral, he said. Initial market reaction to the various reports was muted, he added.

Corn in storage as of Dec. 1, 2014, was 11.2 billion bushels, up 7 percent from the same period in 2013, according to the NASS Grain Stocks report. The September-November disappearance was 4.25 billion bushels, down from 4.29 billion in 2013.

For soybeans, 2.52 billion bushels were in storage, up 17 percent from the previous year. The September-November disappearance of 1.54 billion bushels was up 14 percent.

All wheat stocks were 1.52 billion bushels, up 3 percent. The September-November disappearance of 383 million bushels was down 3 percent.

Wheat numbers

U.S. winter wheat acreage is expected to be down 5 percent, from 42.4 million acres last year to 40.5 million, NASS stated in its Winter Wheat Seedings report. Hard red wheat acreage is projected to be 29.5 million acres, down 3 percent, while soft red wheat, at 7.5 million acres, is down 12 percent.

Illinois planted 555,000 acres, down from last year’s 740,000. Indiana planted 360,000, down from 390,000; Iowa, 24,000, down from 26,000; Kentucky, 640,000, up from 630,000; Michigan, 500,000, down from 570,000; Ohio, 540,000, down from 620,000; and Tennessee, 500,000, down from 530,000.

Growers in Colorado, Kansas, Montana, North Dakota, Oklahoma and Texas planted far less hard red winter wheat acreage, NASS reported, while Nebraska and South Dakota saw significantly more. For soft red winter wheat, most states reported drops in acreage – with Illinois and Missouri seeing especially large decreases.