Text highlights from Grain Stocks Report

Following are highlights from the Grain Stocks Report:

Corn Stocks Down 34 Percent from September 2010 Soybean Stocks Up 42 Percent All Wheat Stocks Down 12 Percent

Old crop corn stocks in all positions on September 1, 2011 totaled 
1.13 billion bushels, down 34 percent from September 1, 2010. Of the total 
stocks, 315 million bushels are stored on farms, down 35 percent from a year 
earlier. Off-farm stocks, at 813 million bushels, are down 33 percent from a 
year ago. The June - August 2011 indicated disappearance is 2.54 billion 
bushels, compared with 2.60 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2011 totaled 
215 million bushels, up 42 percent from September 1, 2010. Soybean stocks 
stored on farms totaled 48.5 million bushels, up 37 percent from a year ago. 
Off-farm stocks, at 166 million bushels, are up 44 percent from last 
September. Indicated disappearance for June - August 2011 totaled 405 million 
bushels, down 4 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 
2010 soybean production is revised down fractionally from the previous 
estimate. Harvested area is revised down 6,000 acres. A table with 2010 
acreage, yield, and production estimates by State is included on page 17 of 
this report.

All wheat stored in all positions on September 1, 2011 totaled 2.15 billion 
bushels, down 12 percent from a year ago. On-farm stocks are estimated at 
642 million bushels, down 21 percent from last September. Off-farm stocks, at 
1.51 billion bushels, are down 8 percent from a year ago. The 
June - August 2011 indicated disappearance is 720 million bushels, down 
2 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2011 totaled 65.2 million 
bushels, down 35 percent from a year ago. On-farm stocks, at 36.4 million 
bushels, are down 49 percent from September 1, 2010. Off-farm stocks totaled 
28.8 million bushels, down slightly from a year ago. The June - August 2011 
indicated disappearance of 22.1 million bushels is down 45 percent from the 
same period a year earlier.