Quarterly Grain Stocks: Corn Stocks Down 7%, Soybean Up 45%

September 28, 2018 11:05 AM
 
USDA Quarterly Grain Stocks report released Sept. 28, shows corn stocks down from Sept. 2017 but soybean and all wheat stocks are both up year-over-year.

Corn Stocks Down 7 Percent from September 2017
Soybean Stocks Up 45 Percent
All Wheat Stocks Up 5 Percent

Old crop corn stocks in all positions on September 1, 2018 totaled 2.14 billion bushels, down 7 percent from September 1, 2017. Of the total stocks, 620 million bushels are stored on farms, down 21 percent from a year earlier. Off-farm stocks, at 1.52 billion bushels, are up 1 percent from a year ago. The June - August 2018 indicated disappearance is 3.16 billion bushels, compared with 2.94 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2018 totaled 438 million bushels, up 45 percent from September 1, 2017. Soybean stocks stored on farms totaled 101 million bushels, up 15 percent from a year ago. Off-farm stocks, at 337 million bushels, are up 58 percent from last September. Indicated disappearance for June - August 2018 totaled 781 million bushels, up 18 percent from the same period a year earlier.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2017 soybean production is revised up 19.1 million bushels from the previous estimate. Planted area is unchanged at 90.1 million acres, and harvested area is unchanged at 89.5 million acres. The 2017 yield, at 49.3 bushels per acre, is up 0.2 bushel from the previous estimate. A table with 2017 acreage, yield, and production estimates by States is included on page 17 of this report.

All wheat stored in all positions on September 1, 2018 totaled 2.38 billion bushels, up 5 percent from a year ago. On-farm stocks are estimated at 631 million bushels, up 28 percent from last September. Off-farm stocks, at 1.75 billion bushels, are down 1 percent from a year ago. The June - August 2018 indicated disappearance is 605 million bushels, down 8 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2018 totaled 90.6 million bushels, up 37 percent from a year ago. On-farm stocks, at 51.8 million bushels, are up 55 percent from September 1, 2017. Off-farm stocks totaled 38.8 million bushels, up 18 percent from a year ago. The June - August 2018 indicated disappearance of 21.6 million bushels is down 13 percent from the same period a year earlier.

Barley stocks in all positions on September 1, 2018 totaled 175 million bushels, down 3 percent from September 1, 2017. On-farm stocks are estimated at 91.4 million bushels, 1 percent above a year ago. Off-farm stocks, at 83.2 million bushels, are 7 percent below September 2017. The June - August 2018 indicated disappearance is 73.1 million bushels, 6 percent above the same period a year earlier.

Oats stored in all positions on September 1, 2018 totaled 74.9 million bushels, 4 percent above the stocks on September 1, 2017. Of the total stocks on hand, 39.2 million bushels are stored on farms, 15 percent higher than a year ago. Off-farm stocks totaled 35.7 million bushels, 6 percent below the previous year. Indicated disappearance during June - August 2018 totaled 22.3 million bushels, compared with 27.7 million bushels during the same period a year ago.

Old crop grain sorghum stored in all positions on September 1, 2018 totaled 34.9 million bushels, up 4 percent from a year ago. On-farm stocks, at 3.36 million bushels, are down 22 percent from last year. Off-farm stocks, at 31.5 million bushels, are up 8 percent from September 1, 2017. The June - August 2018 indicated disappearance from all positions is 30.5 million bushels, down 41 percent from the same period a year ago.

Old crop sunflower stocks in all positions on September 1, 2018 totaled 386 million pounds, down 35 percent from a year ago. All stocks stored on farms totaled 90.6 million pounds and off-farm stocks totaled 295 million pounds. Stocks of oil type sunflower seed are 279 million pounds; of this total, 81.6 million pounds are on-farm stocks and 197 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 107 million pounds, with 9.00 million pounds stored on the farm and 98.1 million pounds stored off the farm.

 

Read the full report.

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