January 14, 2008

USDA sees more corn, less wheat and soy stored than year ago
 

The US Department of Agriculture said Friday that there was more corn but less soys and wheat stored on- and off-farms in the US, as of Dec. 1, 2007, than a year ago.

Corn storage was 10.3 billion bushels, the USDA said, up 15 percent from Dec. 1, 2006. Of that corn, 6.53 billion bushels were stored on-farm, 16 percent more than a year ago. The off-farm figure is 3.74 billion bushels, a 13 percent increase.

For wheat, the Dec. 1, 2007, total for storage in all positions was 1.13 billion bushels, a 14 percent decrease from a year ago. Of that total, 290 million bushels were on-farm, a 28 percent drop from Dec. 1, 2006. The off-farm total was 838 million bushels, a 8 percent drop.

Soy storage was also lower than a year ago, the USDA said. Soy storage in all positions was 2.33 billion bushels, down 14 percent from the year before. On-farm stocks of soys totaled 1.1 billion bushels, a 25 percent decrease. Off-farm stocks totaled 1.23 billion bushels, down 1 percent.