Grain Stocks: Corn, Soybeans Well Above Last Year, Wheat Down Slightly

Old crop corn stocks in all positions on September 1, 2017 totaled 2.29 billion bushels, up 32 percent from September 1, 2016. Of the total stocks, 787 million bushels are stored on farms, up 25 percent from a year earlier. Off-farm stocks, at 1.51 billion bushels, are up 36 percent 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.

Old crop soybeans stored in all positions on September 1, 2017 totaled 301 million bushels, up 53 percent from September 1, 2016. Soybean stocks stored on farms totaled 87.9 million bushels, up 112 percent from a year ago. Off-farm stocks, at 213 million bushels, are up 38 percent from last September. Indicated disappearance for June – August 2017 totaled 665 million bushels, down 2 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 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. A table with 2016 acreage, yield, and production estimates by States is included on page 17 of this report.

All wheat stored in all positions on September 1, 2017 totaled 2.25 billion bushels, down 11 percent from a year ago. On-farm stocks are estimated at 489 million bushels, down 33 percent from last September. Off-farm stocks, at 1.76 billion bushels, are down 3 percent from a year ago. The June – August 2017 indicated disappearance is 668 million bushels, down 10 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2017 totaled 63.9 million bushels, down 30 percent from a year ago. On-farm stocks, at 31.1 million bushels, are down 53 percent from September 1, 2016. Off-farm stocks totaled 32.8 million bushels, up 24 percent from a year ago. The June – August 2017 indicated disappearance of 27.3 million bushels is down 31 percent from the same period a year earlier.

Barley stocks in all positions on September 1, 2017 totaled 180 million bushels, down 22 percent from September 1, 2016. On-farm stocks are estimated at 89.4 million bushels, 32 percent below a year ago. Off-farm stocks, at 90.2 million bushels, are 10 percent below September 2016. The June – August 2017 indicated disappearance is 68.7 million bushels, 4 percent below the same period a year earlier.

Oats stored in all positions on September 1, 2017 totaled 71.8 million bushels, 9 percent below the stocks on September 1, 2016. Of the total stocks on hand, 33.7 million bushels are stored on farms, 10 percent lower than a year ago. Off-farm stocks totaled 38.1 million bushels, 7 percent below the previous year. Indicated disappearance during June – August 2017 totaled 27.9 million bushels, compared with 43.0 million bushels during the same period a year ago.

Old crop grain sorghum stored in all positions on September 1, 2017 totaled 33.5 million bushels, down 8 percent from a year ago. On-farm stocks, at 4.28 million bushels, are up 14 percent from last year. Off-farm stocks, at 29.3 million bushels, are down 11 percent from September 1, 2016. The June – August 2017 indicated disappearance from all positions is 51.2 million bushels, down 5 percent from the same period a year ago.

Old crop sunflower stocks in all positions on September 1, 2017 totaled 649 million pounds, up 57 percent from a year ago. All stocks stored on farms totaled 134 million pounds and off-farm stocks totaled 515 million pounds. Stocks of oil type sunflower seed are 495 million pounds; of this total, 115 million pounds are on-farm stocks and 379 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 154 million pounds, with 18.9 million pounds stored on the farm and 135 million pounds stored off the farm.

Full report.

Small Grains Summary.


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