On-farm stocks of wheat were 288,010,000 bushels, down 17% from 348,250,000 bushels a year ago, while off-farm stocks were 1,136,548,000 bushels, up 13% from 1,008,107,000 bushels last year. Indicated disappearance of wheat during the December 2010-February 2011 period was 508 million bushels, up 20% from the same period a year ago, the USDA said.
The USDA all wheat stocks number was above pre-report trade expectations that averaged about 1,399 million bushels.
Durum stocks on March 1, were 56,495,000 bushels, up 2% from 55,516,000 bushels a year ago. On-farm durum stocks were 35,700,000 bushels, up 4% from a year earlier, while off-farm stocks were 20,795,000 bushels, down 2%. Indicated disappearance during the December-February period was 11.8 million bushels, down 42% from a year earlier, the USDA said.
Stocks of corn in all position on March 1 totaled 6,522,804,000 bushels, down 15% from 7,693,787,000 bushels a year ago. On-farm corn stocks were 3,384,000,000 bushels, down 26% from last year, and off-farm stocks were 3,138,804,000 bushels, down slightly from a year ago. Indicated disappearance of corn during the December-February period was 3.53 billion bushels, up 10% from the same period last year, the USDA said.
Soybean stocks in all positions were 1,248,885,000 bushels, down 2% from 1,270,068,000 bushels on March 1, 2010, the USDA said. On-farm stocks were 505,000,000 bushels, down 17% from last year, and off-farm stocks totaled 743,885,000 bushels, up 13%. Indicated disappearance during December-February was 1.03 billion bushels, down 4% from the same period a year earlier, the USDA said.
The USDA stocks numbers were below trade expectations, which averaged 6,701 million bushels for corn and 1,295 million bushels for soybeans.
March 1, grain sorghum stocks in all positions totaled 170,822,000 bushels, down 3% from a year ago, oats stocks totaled 86,345,000 bushels, down 12%, and barley stocks totaled 137,972,000 bushels, also down 12%.