Grain Stocks: Corn, Wheat Down Slightly, Soybeans Double Last Year

Grain bins in the spring. ©Debra L Ferguson

Old crop corn stocks in all positions on September 1, 2019 totaled 2.11 billion bushels, down 1 percent from September 1, 2018. Of the total stocks, 753 million bushels are stored on farms, up 22 percent from a year earlier. Off-farm stocks, at 1.36 billion bushels, are down 10 percent from a year ago. The June – August 2019 indicated disappearance is 3.09 billion bushels, compared with 3.16 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2019 totaled 913 million bushels, up 108 percent from September 1, 2018. Soybean stocks stored on farms totaled 265 million bushels, up 162 percent from a year ago. Off-farm stocks, at 648 million bushels, are up 92 percent from last September. Indicated disappearance for June – August 2019 totaled 870 million bushels, up 11 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 2018 soybean production is revised down 116 million bushels from the previous estimate.

Planted area is revised to 89.2 million acres, and harvested area is revised to 87.6 million acres. The 2018 yield, at 50.6 bushels per acre, is down 1.0 bushel from the previous estimate. A table with 2018 acreage, yield, and production estimates by States is included on page 17 of this report.

All wheat stored in all positions on September 1, 2019 totaled 2.38 billion bushels, down slightly from a year ago. On-farm stocks are estimated at 776 million bushels, up 23 percent from last September. Off-farm stocks, at 1.61 billion bushels, are down 8 percent from a year ago. The June – August 2019 indicated disappearance is 657 million bushels, up 11 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2019 totaled 92.9 million bushels, up 3 percent from a year ago. On-farm stocks, at 54.1 million bushels, are up 4 percent from September 1, 2018. Off-farm stocks totaled 38.8 million bushels, up 2 percent from a year ago. The June – August 2019 indicated disappearance of 19.8 million bushels is down 14 percent from the same period a year earlier.

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