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.