WASHINGTON — Wheat stored in all positions on Sept. 1 totaled 2,088,957,000 bus, up 10% from 1,907,220,000 bus on Sept. 1, 2014, the U.S. Department of Agriculture said in its latest Grain Stocks report. Sept. 1 old crop corn stocks were up 41% from last year at 1,731,310,000 bus, and old crop soybean stocks were up 108% at 191,425,000 bus.
The U.S.D.A. wheat stocks number was below the average pre-report trade expectation of 2,165 million bus, the corn number was slightly below the trade average of 1,735 million bus, and the soybean number also was below the trade average of 204 million bus.
Wheat futures traded higher after the report, helped by bullish numbers in the U.S.D.A.’s Small Grains 2015 Summary, while corn and soybean futures traded mostly lower.
On-farm stocks of wheat were 647,000,000 bus, down 9% from 713,450,000 a year ago, while off-farm stocks were 1,441,957,000 bus, up 21% from 1,193,770,000 bus. Indicated disappearance of wheat during the June-August period was 716 million bus, up 1% from the same period last year, the U.S.D.A. said.
Durum stocks were 73,842,000 bus, up 28% from 57,821,000 bus a year ago. On-farm stocks of 44,400,000 bus were up 15% from 38,700,000 bus a year ago while off-farm stocks of 29,442,000 bus were up 54% from 19,121,000 bus. Indicated disappearance during the June-August period was 34.3 million bus, up 93% from a year ago, the U.S.D.A. said.
On-farm stocks of old crop corn totaled 593,000,000 bus on Sept. 1, up 28% from 462,000,000 bus a year earlier, while off-farm supplies were 1,138,310,000 bus, up 48% from 769,904,000 bus. Indicated disappearance of corn during the June-August period was 1.94 billion bus, down 10% from 2.72 billion bus, up 4% from the same period last year, the U.S.D.A. said.
Old crop on-farm soybean stocks were 49,700,000 bus, up 133% from 21,325,000 bus on Sept. 1, 2014, while off-farm stocks totaled 141,725,000 bus, up 101% from 70,666,000 bus. Indicated disappearance during June-August was 436 million bus, up 39% from the same period last year.
Sept. 1 stocks of other grains were: barley, 218,515,000 bus, up 22% from 2014; oats, 93,291,000 bus, up 26%; old crop grain sorghum, 18,414,000 bus, down 46%; and old crop sunflowerseed, 237,637,000 lbs, up 19%, including 79,210,000 lbs of oil type, down 30%, and 158,427,000 lbs of non-old type, up 82%.
“Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2014 soybean production is revised to 3,927,090,000 bus, down 41,733,000 bus from the previous estimate (3,968,823,000 bus),” the U.S.D.A. said. “Planted area is revised down 425,000 acres to 83.3 million acres, and harvested area is revised down 470,000 acres to 82.6 million acres. The 2014 yield, at 47.5 bus an acre, is down 0.3 bu from the previous estimate.”
