WASHINGTON, D.C., U.S. — June 1 stocks of U.S. wheat were down 3%, corn down 12% and soybeans down 35% from June 1, 2012, the U.S. Department of Agriculture (USDA) said in its June 28 quarterly Grain Stocks report.
Wheat stored in all positions on June 1 totaled 718,340,000 bushels, down 3% from 742,620,000 bushels on June 1, 2012, the USDA said. On-farm stocks of wheat were 120,150,000 bushels, up 7% from 112,030,000 bushels a year ago, while off-farm stocks were 598,190,000 bushels, down 5% from 630,590,000 bushels last year. Indicated disappearance of wheat during the March-May period was 516 million bushels, up 13% from the same period last year, the USDA said.
The wheat stocks number, which equates to carryover since the marketing year began June 1, was below the pre-report trade estimated average of 750 million bushels and fell below the entire trade range of 732 million to 781 million bushels.
Durum stocks were 23,461,000 bushels, down 8% from 25,470,000 bushels a year ago. On-farm stocks of 13,600,000 bushels were down 11% from 15,200,000 bushels a year ago while off-farm stocks of 9,861,000 bushels were down 4% from 10,270,000 bushels in 2012. Indicated disappearance during the March-May period was 19 million bushels, up 84% from a year ago, the USDA said.
Stocks of corn on June 1 totaled 2,764,216,000 bushels, down 12% from 3,148,204,000 bushels a year ago. On farm stocks of corn totaled 1,260,100,000 bushels, down 15% from 1,482,000,000 bushels a year earlier, while off-farm supplies were 1,504,116,000 bushels, down 10% from 1,666,204,000 bushels. Indicated disappearance of corn during the March-May period was 2.64 billion bushels, down 8% from 2.88 billion bushels during the same period last year, the USDA said.
Soybean stocks in all positions were 434,508,000 bushels, down 35% from 667,465,000 bushels on June 1, 2012, the U.S.D.A said. On-farm soybean stocks were 171,100,000 bushels, down 4% from 179,000,000 bushels on June 1, 2012, while off-farm stocks totaled 263,408,000 bushels, down 46% from 488,465,000 bushels. Indicated disappearance during March-May 2013 was 564 million bushels, down 20% from the same period a year earlier.
The USDA stocks number for corn was below the average of trade expectations that was near 2,856 million bushels. The soybean number was below the average trade estimate of 441 million bushels.
June 1 stocks of barley in all positions totaled 80,295,000 bushels, up 34% from 59,987,000 bushels a year earlier. Oats stocks totaled 36,336,000 bushels, down 34% from 54,989,000 bushels last year. Stocks of grain sorghum were 39,086,000 bushels, down 33% from 58,525,000 bushels a year earlier.
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