April 4, 2006

US soy stocks at record high

Stocks of US soybeans on Mar 1 totaled 1,67 billion bushels, up 21 percent from a year ago and the largest on record, the US Department of Agriculture (USDA) said in its quarterly Grain Stocks report issued on Mar 31.

On-farm stocks of soybeans were also at a record high of 872 million bushels, up 10 percent from 2005. Off-farm stocks, at 797 million bushels, were up 36 percent from 2005 and also the largest on record, the USDA said.

Stocks of wheat in all positions totaled 972 million bushels on Mar 1, down 1 percent from a year ago, the USDA said. On-farm stocks of all wheat were estimated at 256 million bushels, down 16 percent from Mar 1, 2005, the USDA said. Off-farm stocks, at 716 million bushels, were up 5 percent from a year ago.

Durum stocks in all positions on Mar 1 totaled 66 million bushels, up 18 percent from last year. On-farm stocks of 39.5 million bushels were up 12 percent while off-farm stocks, at 26.1 million bushels, were up 27 percent from 2005.

Stocks of corn in all positions totaled 7 billion bushels, up 3 percent from a year ago. On-farm stocks of 4 billion bushels were down 2 percent from last year, while off-farm stocks, at 2.9 billion bushels, were up 12 percent from 2005.