Grain Stocks: Soybeans Up Sharply, Wheat Declines – USDA

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Corn stocks in all positions on June 1, 2018 totaled 5.31 billion bushels, up 1 percent from June 1, 2017. Of the total stocks, 2.75 billion bushels are stored on farms, down 3 percent from a year earlier. Off-farm stocks, at 2.56 billion bushels, are up 7 percent from a year ago. The March – May 2018 indicated disappearance is 3.59 billion bushels, compared with 3.39 billion bushels during the same period last year.

Soybeans stored in all positions on June 1, 2018 totaled 1.22 billion bushels, up 26 percent from June 1, 2017. On-farm stocks totaled 377 million bushels, up 13 percent from a year ago. Off-farm stocks, at 845 million bushels, are up 33 percent from a year ago. Indicated disappearance for the March – May 2018 quarter totaled 888 million bushels, up 15 percent from the same period a year earlier.

Old crop all wheat stored in all positions on June 1, 2018 totaled 1.10 billion bushels, down 7 percent from a year ago. On-farm stocks are estimated at 130 million bushels, down 32 percent from last year. Off-farm stocks, at 970 million bushels, are down 2 percent from a year ago. The March – May 2018 indicated disappearance is 395 million bushels, down 17 percent from the same period a year earlier.

Old crop Durum wheat stocks in all positions on June 1, 2018 totaled 35.9 million bushels, down 1 percent from a year ago. On-farm stocks, at 15.0 million bushels, are down 19 percent from June 1, 2017. Off-farm stocks totaled 20.9 million bushels, up 17 percent from a year ago. The March – May 2018 indicated disappearance of 13.6 million bushels is down 18 percent from the same period a year earlier.

Old crop barley stocks in all positions on June 1, 2018 totaled 94.7 million bushels, down 11 percent from June 1, 2017. On-farm stocks are estimated at 26.4 million bushels, 2 percent below a year ago. Off-farm stocks, at 68.3 million bushels, are 14 percent below June 1, 2017. The March – May 2018 indicated disappearance is 35.3 million bushels, 8 percent below the same period a year earlier.

Old crop oats stored in all positions on June 1, 2018 totaled 41.0 million bushels, 18 percent below the stocks on June 1, 2017. Of the total stocks on hand, 11.4 million bushels are stored on farms, 16 percent below a year ago. Off-farm stocks totaled 29.6 million bushels, 20 percent below the previous year. Indicated disappearance during March – May 2018 totaled 13.9 million bushels, 8 percent above the same period a year ago.

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Grain sorghum stored in all positions on June 1, 2018 totaled 65.3 million bushels, down 23 percent from a year ago. On-farm stocks, at 5.22 million bushels, are down 39 percent from last year. Off-farm stocks, at 60.1 million bushels, are down 21 percent from June 1, 2017. The March – May 2018 indicated disappearance from all positions is 74.9 million bushels, down 22 percent from the same period last year.

Pulse crops stored in all positions on June 1, 2018 and the change from June 1, 2017 are: dry edible peas, 4.40 million cwt, up 1 percent; lentils, 1.76 million cwt, up 45 percent; Austrian winter peas, 270 thousand cwt; all chickpeas, 880 thousand cwt, up 108 percent; small chickpeas, 268 thousand cwt, up 102 percent; and large chickpeas, 612 thousand cwt, up 111 percent. Small chickpeas are defined as peas that will pass through a 20/64 inch round hole screen. Large chickpeas are defined as larger than 20/64 inches.

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