October 1, 2007

US corn stocks down 34 percent on-year

US corn stocks totaled 1.3 billion bushels, 34 percent below levels a year ago, according to the USDA's quarterly grain stocks report.

Soy stocks were up 27 percent while wheat stocks were down 2 percent from a year ago.

According to the report, indicated corn disappearance in the most recent quarter was 2.23 billion bushels, down 6.6 percent from the 2.39 billion the same time last year.

Soy stocks on Sept. 1 totaled 573 million bushels, the largest total for the quarter on record. Indicated disappearance was 519 million bushels, down 4 percent from the same period in 2006.

Wheat stocks on Sept. 1 totaled 1.72 billion bushels, with an indicated disappearance of 806 million bushels, up 27 percent from the June-August period in 2006.