Stock Up for Corn and Soybeans USDA Report

Corn stored in all positions on December 1, 2014 totaled 11.2 billion bushels, up 7 percent from December 1, 2013. Of the total stocks, 7.09 billion bushels are stored on farms, up 11 percent from a year earlier. Off-farm stocks, at 4.12 billion bushels, are up 1 percent from a year ago. The September – November 2014 indicated disappearance is 4.25 billion bushels, compared with 4.29 billion bushels during the same period last year. Soybeans stored in all positions on December 1, 2014 totaled 2.52 billion bushels, up 17 percent from December 1, 2013. Soybean stocks stored on farms totaled 1.22 billion bushels, up 28 percent from a year ago. Off-farm stocks, at 1.31 billion bushels, are up 9 percent from last December. Indicated disappearance for September – November 2014 totaled 1.54 billion bushels, up 14 percent from the same period a year earlier. All wheat stored in all positions on December 1, 2014 totaled 1.52 billion bushels, up 3 percent from a year ago. On-farm stocks are estimated at 473 million bushels, up 19 percent from last December. Off-farm stocks, at 1.05 billion bushels, are down 2 percent from a year ago. The September – November 2014 indicated disappearance is 383 million bushels, down 3 percent from the same period a year earlier.

• USDA’s report failed to match bullish expectations the trade had built into prices.