USDA Grain Stocks Report

USDA Grain Stocks Report

Corn Stocks Up 29 Percent from September 2023

Soybean Stocks Up 29 Percent

All Wheat Stocks Up 12 Percent

Old crop corn stocks in all positions on September 1, 2024 totaled 1.76 billion bushels, up 29 percent from September 1, 2023. Of the total stocks, 780 million bushels are stored on farms, up 29 percent from a year earlier. Off-farm stocks, at 980 million bushels, are up 30 percent from a year ago. The June - August 2024 indicated disappearance is 3.24 billion bushels, compared with 2.74 billion bushels during the same period last year.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports, and farm program administrative data, the 2023 corn for grain production is revised down 1.08 million bushels from the previous estimate. Corn silage production is revised down 140 thousand tons. Planted area is unchanged at 94.6 million acres, but area harvested for grain is revised down 7,000 acres to 86.5 million acres. Area harvested for silage is revised down 10,000 acres to 6.46 million acres. The 2023 grain yield, at 177.3 bushels per acre, is unchanged from the previous estimate. The 2023 silage yield, at 20.1 tons per acre, remains unchanged from the previous estimate. A table with 2023 acreage, yield, and production estimates by States is included on pages 17 and 18 of this report.

Old crop soybeans stored in all positions on September 1, 2024 totaled 342 million bushels, up 29 percent from September 1, 2023. Soybean stocks stored on farms totaled 111 million bushels, up 54 percent from a year ago. Off-farm stocks, at 231 million bushels, are up 20 percent from last September. Indicated disappearance for June - August 2024 totaled 628 million bushels, up 18 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 2023 soybean production is revised down 2.62 million bushels from the previous estimate. Planted area is unchanged at 83.6 million acres, but harvested area is revised to 82.3 million acres. The 2023 yield, at 50.6 bushels per acre, is unchanged from the previous estimate. A table with 2023 acreage, yield, and production estimates by States is included on page 19 of this report.

All wheat stored in all positions on September 1, 2024 totaled 1.99 billion bushels, up 12 percent from a year ago. On-farm stocks are estimated at 664 million bushels, up 11 percent from last September. Off-farm stocks, at 1.32 billion bushels, are up 13 percent from a year ago. The June - August 2024 indicated disappearance is 682 million bushels, up 12 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2024 totaled 67.3 million bushels, up 17 percent from a year ago. On-farm stocks, at 47.1 million bushels, are up 42 percent from September 1, 2023. Off-farm stocks totaled 20.2 million bushels, down 16 percent from a year ago. The June - August 2024 indicated disappearance of 33.8 million bushels is up 13 percent from the same period a year earlier.

Barley stocks in all positions on September 1, 2024 totaled 154 million bushels, down 14 percent from September 1, 2023. On-farm stocks are estimated at 90.3 million bushels, 27 percent below a year ago. Off-farm stocks, at 63.8 million bushels, are 15 percent above September 2023. The June - August 2024 indicated disappearance is 68.0 million bushels, 6 percent below the same period a year earlier.

Oats stored in all positions on September 1, 2024 totaled 65.2 million bushels, 13 percent below the stocks on September 1, 2023. Of the total stocks on hand, 38.6 million bushels are stored on farms, 9 percent higher than a year ago. Off-farm stocks totaled 26.6 million bushels, 33 percent below the previous year. Indicated disappearance during June - August 2024 totaled 38.8 million bushels, compared with 16.5 million bushels during the same period a year ago.