Prospective Plantings and Grain Stocks Report - March 31, 2008

Prospective Plantings

National Agricultural Statistics Service USDA Washington, D.C.

Released March 31, 2008, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Prospective Plantings" call (202) 720-2127, office hours 7:30 a.m. to 4:00 p.m. ET.

Corn Planted Acreage Down 8 Percent from 2007
Soybean Acreage Up 18 Percent
All Wheat Acreage Up 6 Percent
All Cotton Acreage Down 13 Percent

Corn growers intend to plant 86.0 million acres of corn for all purposes in 2008, down 8 percent from last year when corn planted area was the highest since 1944. Expected acreage is down from last year in most States as favorable prices for other crops, high input costs for corn, and crop rotation considerations are motivating some farmers to plant fewer acres to corn. Despite the decrease, corn acreage is expected to remain at historically high levels as the corn price outlook remains strong due in part to the continued expansion in ethanol production.

Soybean producers intend to plant 74.8 million acres in 2008, up 18 percent from last year, but 1 percent below the record high acreage in 2006. Acreage increases are expected in all States, except in West Virginia, which is unchanged from last year. The largest increases are expected in Iowa and Nebraska, up 1.25 million acres and 1.20 million acres from 2007, respectively. Increases of at least 800,000 acres are also expected in Indiana, Minnesota, and South Dakota. If realized, the planted acreage in Kansas, New York, and Pennsylvania will be the largest on record.

All wheat planted area is estimated at 63.8 million acres, up 6 percent from 2007. The 2008 winter wheat planted area, at 46.8 million acres, is 4 percent above last year and up slightly from the previous estimate. Of this total, about 32.5 million acres are Hard Red Winter, 10.7 million acres are Soft Red Winter, and 3.63 million acres are White Winter. Area planted to other spring wheat for 2008 is expected to total 14.3 million acres, up 8 percent from 2007. Of this total, about 13.6 million acres are Hard Red Spring wheat. The intended Durum planted area for 2008 is 2.63 million acres, up 22 percent from the previous year.

All cotton plantings for 2008 are expected to total 9.39 million acres, 13 percent below last year. Upland acreage is expected to total 9.19 million, down 13 percent from last year, the lowest since 1983. Growers intend to decrease planted area in all States except Georgia and Oklahoma. The largest acreage declines are in Arkansas, Mississippi, Tennessee, and Texas. American-Pima cotton growers intend to decrease their plantings by 30 percent from 2007, to 203,600 acres. California producers expect to plant 180,000 acres, down 31 percent from last year.

This report was approved on March 31, 2008.

Secretary of Agriculture Edward T. Schafer

Agricultural Statistics Board Chairperson Carol C. House

Grain Stocks

National Agricultural Statistics Service USDA Washington, D.C.

Released March 31, 2008, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Grain Stocks" call (202) 720-2127, office hours 7:30 a.m. to 4:00 p.m. ET.

Corn Stocks Up 13 Percent from March 2007
Soybean Stocks Down 20 Percent
All Wheat Stocks Down 17 Percent

Corn stocks in all positions on March 1, 2008 totaled 6.86 billion bushels, up 13 percent from March 1, 2007. Of the total stocks, 3.78 billion bushels are stored on farms, up 14 percent from a year earlier. Off-farm stocks, at 3.08 billion bushels, are up 12 percent from a year ago. The December 2007 - February 2008 indicated disappearance is 3.42 billion bushels, compared with 2.86 billion bushels during the same period last year.

Soybeans stored in all positions on March 1, 2008 totaled 1.43 billion bushels, down 20 percent from March 1, 2007. Soybean stocks stored on farms are estimated at 593 million bushels, down 35 percent from a year ago. Off-farm stocks, at 835 million bushels, are down 5 percent from last March. Indicated disappearance for the December 2007 - February 2008 quarter totaled 904 million bushels, down 1 percent from the same period a year earlier.

All wheat stored in all positions on March 1, 2008 totaled 710 million bushels, down 17 percent from a year ago. On-farm stocks are estimated at 92.0 million bushels, down 52 percent from last March. Off-farm stocks, at 618 million bushels, are down 7 percent from a year ago. The December 2007 - February 2008 indicated disappearance is 422 million bushels, down 8 percent from the same period a year earlier.

Durum wheat stocks in all positions on March 1, 2008 totaled 25.2 million bushels, down 35 percent from a year ago. On-farm stocks, at 8.10 million bushels, are down 53 percent from March 1, 2007. Off-farm stocks totaled 17.1 million bushels, down 22 percent from a year ago. The December 2007 - February 2008 indicated disappearance of 14.6 million bushels is up 17 percent from the same period a year earlier.

Barley stocks in all positions on March 1, 2008 totaled 105 million bushels, down 10 percent from March 1, 2007. On-farm stocks are estimated at 28.3 million bushels, 26 percent below a year ago. Off-farm stocks, at 76.5 million bushels, are 3 percent below March 2007. The December 2007 - February 2008 indicated disappearance totaled 31.0 million bushels, 44 percent below the same period a year earlier.

Oats stored in all positions on March 1, 2008 totaled 79.0 million bushels, 11 percent above the stocks on March 1, 2007. Of the total stocks on hand, 31.0 million bushels are stored on farms, down 9 percent from a year ago. Off-farm stocks totaled 48.0 million bushels, up 29 percent from the previous year. Indicated disappearance during December 2007 - February 2008 totaled 15.4 million bushels, down 45 percent from the same period a year ago.

Grain sorghum stored in all positions on March 1, 2008 totaled 186 million bushels, up 30 percent from a year ago. On-farm stocks, at 26.1 million bushels, are up 53 percent from last March. Off-farm stocks, at 159 million bushels, are up 27 percent from a year earlier. The December 2007 - February 2008 indicated disappearance from all positions is 106 million bushels, up 51 percent from the same period last year.

Sunflower stocks in all positions on March 1, 2008 totaled 1.03 billion pounds, down 6 percent from March 1, 2007. All stocks stored on farms totaled 392 million pounds and off-farm stocks totaled 635 million pounds. Stocks of oil type sunflower seed are 795 million pounds; of this total, 331 million pounds are on-farm stocks and 463 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 232 million pounds, with 60.9 million pounds stored on the farm and 171 million pounds stored off the farm.

This report was approved on March 31, 2008.

Secretary of Agriculture Edward T. Schafer

Agricultural Statistics Board Chairperson Carol C. House