July 1, 2008

 

US corn storage up 14 percent from year ago, soy drops 38 percent 

   
  

The USDA said Monday (June 30, 2008) that there was more corn stored on- and off-farms in the US, as of June 1, 2008, than there was a year earlier.

 

Corn storage, the USDA said in its quarterly grain stocks report, was 4.03 billion bushels.

 

Of the corn in storage on June 1, 1.97 billion bushels were stored on-farm and 2.06 billion were stored off-farm, the USDA said.

 

Soy in storage suffered a steep drop from a year ago, though.

 

As of June 1, soy storage totaled just 676 million bushels, a 38-percent decrease from the same date a year ago.

 

On-farm stocks of soys totaled 227 million bushels and off-farm stocks totaled 449 million bushels, according to the USDA report.

 

All-wheat storage is also down, the USDA said. As of June 1, wheat storage totaled 306 million bushels, a 33-percent decrease from the same date a year ago.

 

On-farm stocks of wheat totaled 25.6 million bushels and off-farm stocks totaled 280 million bushels, according to the USDA report.
      

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