October 3, 2011

 

US wheat, corn stocks decrease on-year

 

 

US wheat inventory on September 1 amounted 2,150,073,000 bushels, declining 12% from 2,449,617,000 bushels on September 1, 2010, whereas September 1 old corn supplies dipped 34% to reach 1,128,245,000 bushels, according to the USDA in its most recent Grain Stocks report.

 

However, old soy stocks were up 42% at 214,663,000 bushels.

 

The USDA stocks numbers for wheat and corn were above the average of pre-report trade expectations while the soy number was below expectations.

 

On-farm stocks of wheat were 641,500,000 bushels, down 21% from 812,100,000 a year ago, while off-farm stocks were 1,508,573,000 bushels, down 8% from 1,637,517,000 bushels last year. Indicated disappearance of wheat during the June-August period was 720 million bushels, down 2% from the same period last year, the USDA said.

 

Durum stocks were 65,228,000 bushels, down 35% from 100,131,000 bushels a year ago. On-farm stocks of 36,400,000 bushels were down 49% from 71,200,000 bushels a year ago while off-farm stocks of 28,828,000 bushels were down slightly from 28,931,000 bushels in 2010. Indicated disappearance during the June-August period was 22.1 million bushels, down 45% from a year ago, the USDA said.

 

On farm stocks of old crop corn totalled 314,950,000 bushels on September 1, down 35% from 485,100,000 bushels a year earlier, while off-farm supplies were 813,295,000 bushels, down 33% from 1,222,687,000 bushels in 2010. Indicated disappearance of corn during the June-August period was 2.54 billion bushels, down 2% from 2.6 billion bushels in the same period last year, the USDA said.

 

Old crop on-farm soy stocks were 48,500,000 bushels, up 37% from 35,400,000 bushels on September 1, 2010, while off-farm stocks totalled 166,163,000 bushels, up 44% from 115,485,000 bushels in 2010. Indicated disappearance during June-August was 405 million bushels, down 4% from the same period a year earlier.

 

September 1 stocks of other grains were barley at 174,357,000 bushels, down 22% from 2010, old crop grain sorghum at 27,450,000 bushels, down 33%, and old crop sunflowerseed at 258,669,000 lbs, down 34%, including 134,519,000 lbs of oil type, down 58%.