WASHINGTON, D.C., U.S. — U.S. wheat stored in all positions on Sept. 1 totaled 1,854,830,000 bushels, down 12% from 2,104,737,000 bushels on Sept. 1, 2012, the U.S. Department of Agriculture (USDA) said in its latest Grain Stocks report. Sept. 1 old crop corn stocks were down 17% from last year at 823,642,000 bushels, and old crop soybean stocks were down 17% at 140,598,000 bushels.
The USDA wheat stocks number was below the average pre-report trade expectation of 1,938 million bushels, the corn number was above the trade average of 688 million bushels, and the soybean number was above the trade average of 126 million bushels. The USDA corn and soybean stocks numbers were equivalent to the carryover with the new marketing year beginning Sept. 1 for both crops.
“Based on an analysis of end-of-marketing year stock estimates, disappearance for exports and crushings, and farm program administrative data, the 2012 soybean production is revised to 3,033,581,000 bushels, up 18,583,000 bushels from the previous estimate (3,014,998,000 bushels),” the USDA said.
On-farm stocks of wheat were 547,000,000 bushels, down 5% from 572,900,000 a year ago, while off-farm stocks were 1,307,830,000 bushels, down 15% from 1,531,837,000 bushels. Indicated disappearance of wheat during the June-August period was 991 million bushels, up 10% from the same period last year, the USDA said.
Durum stocks were 66,784,000 bushels, down 2% from 68,442,000 bushels a year ago. On-farm stocks of 42,400,000 bushels were down 3% from 43,600,000 bushels a year ago while off-farm stocks of 24,384,000 bushels were down 2% from 24,842,000 bushels. Indicated disappearance during the June-August period was 17.8 million bushels, down 55% from a year ago, the USDA said.
On-farm stocks of old crop corn totaled 275,000,000 bushels on Sept. 1, down 12% from 313,700,000 bushels a year earlier, while off-farm supplies were 548,642,000 bushels, down 19% from 675,327,000 bushels. Indicated disappearance of corn during the June-August period was 1.94 billion bushels, down 10% from 2.16 billion bushels in the same period last year, the USDA said.
Old crop on-farm soybean stocks were 39,550,000 bushels, up 3% from 38,250,000 bushels on Sept. 1, 2012, while off-farm stocks totaled 101,048,000 bushels, down 23% from 131,120,000 bushels. Indicated disappearance during June-August was 294 million bushels, down 41% from the same period a year earlier.
Sept. 1 stocks of other grains were: barley, 196,444,000 bushels, down slightly from 2012; oats, 63,445,000 bushels, down 25%; old crop grain sorghum, 15,034,000 bushels, down 34%; and old crop sunflowerseed, 338,873,000 lbs, up 78%, including 275,658,000 lbs of oil type, up 174%, and 63,215,000 lbs of non-old type, down 30%.
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