April 1, 2011
 

US March wheat stocks increase

US wheat stored in all positions increased from 5% on March 1, 2010 to 1,424,558,000 bushels on March 1, 2011, according to the USDA in its March 31 Grain Stocks report.

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.

Stocks of corn in all position on March 1 totalled 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.

Soy 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 totalled 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 soy.