U.S. wheat, corn stocks down, soybeans up

by World Grain staff
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WASHINGTON, D.C., U.S. — U.S. wheat stored in all positions on March 1, 2012, totaled 1,200,655,000 bushels, down 16% from 1,425,302,000 bushels on March 1, 2011, the U.S. Department of Agriculture (USDA) said in its latest Grain Stocks report.

On-farm stocks of wheat were 217,400,000 bushels, down 25% from 288,010,000 bushels a year ago, while off-farm stocks were 983,255,000 bushels, down 14% from 1,137,292,000 bushels last year. Indicated disappearance of wheat during the December 2011-February 2012 period was 462 million bushels, down 9% from the same period a year ago, the USDA said.

The USDA all wheat stocks number was below pre-report trade expectations that averaged about 1.235 billion bushels.

Durum stocks on March 1, 2012, were 35,349,000 bushels, down 37% from 56,420,000 bushels a year ago. On-farm durum stocks were 17,400,000 bushels, down 51% from a year earlier, while off-farm stocks were 17,949,000 bushels, down 13%. Indicated disappearance during the December-February period was 13.2 million bushels, up 10% from a year earlier, the USDA said.

Stocks of corn in all positions on March 1 totaled 6,009,260,000 bushels, down 8% from 6,523,228,000 bushels a year ago. On-farm corn stocks were 3,192,000,000 bushels, down 6% from last year, and off-farm stocks were 2,817,260,000 bushels, down 10% from a year ago. Indicated disappearance of corn during the December-February period was 3.64 billion bushels, up 3% from the same period last year, the USDA said.

Soybean stocks in all positions were 1,375,258,000 bushels, up 10% from 1,248,800,000 bushels on March 1, 2011, the USDA said. On-farm stocks were 555,000,000 bushels, up 10% from last year, and off-farm stocks totaled 817,258,000 bushels, also up 10%. Indicated disappearance during December-February was 998 million bushels, down 3% from the same period a year earlier, the USDA said.

The USDA stocks numbers were below trade expectations, which averaged 6,151 million bushels for corn and 1,381 million bushels for soybeans. March 1, 2012, grain sorghum stocks in all positions totaled 107,935,000 bushels, down 37% from a year ago, oats stocks totaled 72,538,000 bushels, down 16%, and barley stocks totaled 93,687,000 bushels, down 32%.
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