WASHINGTON, D.C., U.S. — U.S. wheat stored in all positions on Dec. 1 totaled 1,524,590,000 bushels, up 3% from 1,474,851,000 bushels on Dec. 1, 2013, the U.S. Department of Agriculture (USDA) said in its Jan. 12 Grain Stocks report.
Dec. 1 corn stocks were up 7% from last year at 11,202,714,000 bushels, and soybean stocks were up 17% at 2,523,651,000 bushels.
The USDA wheat stocks number was above the average pre-report trade expectation of 1.501 billion bushels, the corn number was above the trade average of 11.161 billion bushels, and the soybean number was below the trade average of 2.608 billion bushels.
Wheat futures prices traded lower after the report while corn futures traded higher. Soy complex futures were sharply lower.
On-farm stocks of wheat were 472,550,000 bushels, up 19% from 398,400,000 a year ago, while off-farm stocks were 1,052,040,000 bushels, down 2% from 1,076,451,000 bushels. Indicated disappearance of wheat during the September-November period was 383 million bushels, down 3% from the same period last year, the USDA said.
Durum stocks were 41,979,000 bushels, down 22% from 53,975,000 bushels a year ago. On-farm stocks of 22,000,000 bushels were down 33% from 32,800,000 bushels a year ago while off-farm stocks of 19,979,000 bushels were down 6% from 21,175,000 bushels. Indicated disappearance during the September-November period was 15.8 million bushels, up 28% from a year earlier, the USDA said.
On-farm stocks of corn totaled 7,087,000,000 bushels on Dec. 1, up 11% from 6,380,000 bushels a year earlier, while off-farm supplies were 4,115,714,000 bushels, up 1% from 4,072,532,000 bushels. Indicated disappearance of corn during the September-November period was 4.25 billion bushels, down 1% from 4.29 billion bushels in the same period a year earlier, the USDA said.
On-farm soybean stocks were 1,218,000,000 bushels, up 28% from 955,000,000 bushels on Dec. 1, 2013, while off-farm stocks totaled 1,305,651,000 bushels, up 9% from 1,198,621,000 bushels. Indicated disappearance during September-November was 1.54 billion bushels, up 14% from the same period a year earlier.
Dec. 1 stocks of other grains were: barley, 157,718,000 bushels, down 7% from Dec. 1, 2013; oats, 62,207,000 bushels, up 29%; and grain sorghum, 229,086,000 bushels, down 1%.