U.S. wheat stocks down 18%
July 1, 2014
by World Grain Staff
WASHINGTON, D.C., U.S. — U.S. wheat stored in all positions on June 1 totaled 589,722,000 bushels, 18% less than 717,889,000 bushels on June 1, 2013, the U.S. Department of Agriculture (USDA) said in its June 30 Grain Stocks report.
On-farm stocks of wheat were 96,995,000 bushels, down 23,155,000 bushels, or 19%, from 120,150,000 bushels a year ago, while off-farm stocks were 492,727,000 bushels 105,012,000, or 18%, less than 597,739,000 bushels last year. Indicated disappearance of wheat during the March-May period was 467 million bushels, down 10% from the same period a year earlier, the USDA said.
The USDA all wheat stocks number was below pre-report trade expectations that averaged about 603 million bushels.
Durum stocks on June 1 were 21,525,000 bushels, down 1,525,000 bushels, or 7%, from 23,050,000 bushels a year ago. On-farm durum stocks were 12,800,000, down 800,000 bushels from 13,600,000 bushels a year earlier, while off-farm stocks were 8,725,000 bushels, down 725,000 bushels from 9,450,000 bushels.
Indicated disappearance during the March-May period was 16.6 million bushels, down 15% from a year earlier.
Stocks of corn in all positions on June 1 totaled 3,853,685,000 bushels, up 1,087,441,000 bushels, or 39%, from 2,766,244,000 bushels a year ago. On-farm corn stocks were 1,863,200,000 bushels, up 603,100,000 from last year, and off-farm stocks were 1,990,485,000 bushels, up 484,341,000 from a year ago. Indicated disappearance of corn during the March-May period was 3.15 billion bushels, up 20% from the same period last year, the USDA said.
Soybean stocks in all positions were 405,183,000 bushels, down 29,481,000 bushels, or 7%, from 434,664,000 bushels on June 1, 2013, the USDA said. On-farm stocks were 109,100,000 bushels, down 62,000,000 from last year, but off-farm stocks totaled 296,083,000 bushels, up 32,519,000 bushels from a year ago. Indicated disappearance during March-May was 589 million bushels, up 4% from the same period a year earlier.
The USDA stocks numbers were above trade expectations for corn, which averaged 3,724 million bushels, and for soybeans, which averaged 387 million bushels.
June 1, 2014, grain sorghum stocks in all positions totaled 92,298,000 bushels, up 125% from a year ago, oats stocks totaled 24,721,000 bushels, down 32% from a year ago, and barley stocks totaled 82,021,000 bushels, up 2% from a year ago.