At noon on June 30, Eastern time, USDA released two authoritative reports on crop acreage and quarterly inventory in the United States in 2021. The crop acreage report reflects the planting area and estimated harvest area of soybean, corn, wheat and other crops at the end of this year's sowing season, while the quarterly inventory report reflects the inventory situation of soybean and other crops in each state of the United States as of June this year.
The report shows that the soybean planting area in 2021 will be about 87.56 million acres, an increase of 5% over the previous year, and the soybean planting area in 28 of the 29 states will be increased or flat over the previous year. In terms of inventories, soybean inventories for the quarter ended June 1 were 767 million bushels, down 44% from a year earlier.
Source: American Soybean Export Association