In the USDA quarterly stocks report released Tuesday, the agency said:
Old crop corn stocks in all positions on September 1, 2014 totaled 1.24 billion bushels, up 50 percent from September 1, 2013. Of the total stocks, 462 million bushels are stored on farms, up 68 percent from a year earlier. Off-farm stocks, at 774 million bushels, are up 42 percent from a year ago. The June – August 2014 indicated disappearance is 2.62 billion bushels, compared with 1.95 billion bushels during the same period last year.
Old crop soybeans stored in all positions on September 1, 2014 totaled 92.0 million bushels, down 35 percent from September 1, 2013. Soybean stocks stored on farms totaled 21.3 million bushels, down 46 percent from a year ago. Off-farm stocks, at 70.6 million bushels, are down 30 percent from last September. Indicated disappearance for June – August 2014 totaled 313 million bushels, up 6 percent from the same period a year earlier.
Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2013 soybean production is revised to 3.36 billion bushels, up 69.2 million bushels from the previous estimate. Planted area is revised up 307,000 acres to 76.8 million acres, and harvested area is revised up 384,000 acres to 76.3 million acres. The 2013 yield, at 44.0 bushels per acre, is up 0.7 bushel from the previous estimate.
All wheat stored in all positions on September 1, 2014 totaled 1.91 billion bushels, up 2 percent from a year ago. On-farm stocks are estimated at 722 million bushels, up 30 percent from last September. Off-farm stocks, at 1.19 billion bushels, are down 9 percent from a year ago. The June – August 2014 indicated disappearance is 711 million bushels, down 28 percent from the same period a year earlier.
Durum wheat stocks in all positions on September 1, 2014 totaled 60.2 million bushels, down 9 percent from a year ago. On-farm stocks, at 41.4 million bushels, are down 4 percent from September 1, 2013. Off-farm stocks totaled 18.9 million bushels, down 20 percent from a year ago. The June – August 2014 indicated disappearance of 18.4 million bushels is up 25 percent from the same period a year earlier.
The Indiana Report:
On September 1, 2014, Indiana corn stocks totaled 77.1 million bushels, 100 percent higher than a year earlier, according to Greg Matli, State Statistician, of the USDA, NASS, Indiana Field Office. About 25 percent of the corn was stored on farms. The fourth quarter disappearance was 230.1 million bushels, compared with 121.2 million bushels a year earlier. Soybean stocks on September 1, 2014, were 9.1 million bushels. That was 8 percent higher than stocks a year earlier. The fourth quarter indicated disappearance was 23.2 million bushels, compared with 23.5 million bushels during the same period in 2013. Farm stocks of soybeans were 1.2 million bushels. Wheat stocks on September 1, 2014, were 38.2 million bushels, 17 percent below a year ago. Approximately 94 percent of wheat stocks were in commercial storage. First quarter indicated disappearance was 2.5 million bushels, 6.2 percent of supply.
Source: NASS