U.S. wheat stocks down 15%, corn up 30%

by World Grain Staff
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WASHINGTON, D.C., U.S. — Wheat stored in all positions on March 1 totaled 1,055,531,000 bushels, down 15% from 1,234,830,000 bushels on March 1, 2013, the U.S. Department of Agriculture (USDA) said in its March 31 Grain Stocks report.

On-farm stocks of wheat were 237,530,000 bushels, up slightly from 236,970,000 bushels a year ago, while off-farm stocks were 818,001,000 bushels, down 18% from 997,860,000 bushels last year. Indicated disappearance of wheat during the December 2013-February 2014 period was 419 million bushels, down 4% from the same period a year earlier, the USDA said.

The USDA all wheat stocks number was above pre-report trade expectations that averaged about 1,034 million bushels.

Durum stocks on March 1 were 38,141,000 bushels, down 10% from 42,488,000 bushels a year ago. On-farm durum stocks were 20,700,000, down 3% from a year earlier, while off-farm stocks were 17,441,000 bushels, down 17%. Indicated disappearance during the December-February period was 15.8 million bushels, down 14% from a year earlier, the USDA said.

Stocks of corn in all positions on March 1 totaled 7,005,932,000 bushels, up 30% from 5,339,926,000 bushels a year ago. On-farm corn stocks were 3,860,500 bushels, up 45% from last year, and off-farm stocks were 3,145,432,000 bushels, up 15% from a year ago. Indicated disappearance of corn during the December-February period was 3.45 billion bushels, up 31% from the same period last year, the USDA said.

Soybean stocks in all positions were 992,325,000 bushels, down 1% from 998,020,000 bushels on March 1, 2013, the USDA said. On-farm stocks were 381,900,000 bushels, down 16% from last year, and off-farm stocks totaled 610,425,000 bushels, up 13%. Indicated disappearance during December-February was 1.16 billion bushels, up 20% from the same period a year earlier, the USDA said.

The USDA stocks numbers were below trade expectations for corn, which averaged 7,110 million bushels, and were above for soybeans, which averaged 989 million bushels.

March 1, 2014, grain sorghum stocks in all positions totaled 172,527,000 bushels, up 88% from a year ago, oats stocks totaled 35,131,000 bushels, down 33%, and barley stocks totaled 121,511,000 bushels, up 4%.
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