Corn Stocks Up 32% from September 2016
Soybean Stocks Up 53%
All Wheat Stocks Down 11%
Corn and soybean stocks are both up from this time last year, per USDA’s Sept. 29 Grain Stocks report. Old-crop corn stocks in all positions on Sept. 1, 2017 totaled 2.29 billion bushels, up 32% from Sept. 1, 2016.
Of the total stocks, 787 million bushels are stored on farms, up 25% from a year earlier. Off-farm stocks, at 1.51 billion bushels, are up 36% from a year ago. The June - August 2017 indicated disappearance is 2.93 billion bushels, compared with 2.97 billion bushels during the same period last year.
For soybeans, old crop soybeans stored in all positions on Sept. 1, 2017 totaled 301 million bushels, up 53% from Sept. 1, 2016.
Soybean stocks stored on farms totaled 87.9 million bushels, up 112% from a year ago. Off-farm stocks, at 213 million bushels, are up 38% from last September. Indicated disappearance for June - August 2017 totaled 665 million bushels, down 2% 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 2016 soybean production is revised down 10.6 million bushels from the previous estimate. Planted area is unchanged at 83.4 million acres, and harvested area is revised down 40,000 acres to 82.7 million acres. The 2016 yield, at 52.0 bushels per acre, is down 0.1 bushel from the previous estimate.
All wheat stored in all positions on Sept. 1, 2017 totaled 2.25 billion bushels, down 11% from a year ago. On-farm stocks are estimated at 489 million bushels, down 33% from last September. Off-farm stocks, at 1.76 billion bushels, are down 3% from a year ago. The June - August 2017 indicated disappearance is 668 million bushels, down 10% from the same period a year earlier.
Old crop grain sorghum stored in all positions on Sept. 1, 2017 totaled 33.5 million bushels, down 8% from a year ago. On-farm stocks, at 4.28 million bushels, are up 14% from last year. Off-farm stocks, at 29.3 million bushels, are down 11% from Sept. 1, 2016. The June - August 2017 indicated disappearance from all positions is 51.2 million bushels, down 5% from the same period a year ago.
See the full Sept. 29, 2017 Grain Stocks report.