CORN STOCKS UP 50%, SOYBEAN STOCKS DOWN 35%

The National Ag Statistics Service released its Grain Stocks report, showing 1.24 billion bushels of old crop corn in all positions as of September first, up 50 percent from a year ago.  Of the total, 462 million bushels were stored on farms, and 774 million bushels were off the farm, with both numbers higher than last year. 

NASS also reported 92 million bushels of soybeans in storage, down 35 percent from last year.  Of the total stocks, 21.3 million bushels of soybeans were stored on farms and 70.6 million bushels were stored off the farm, and both of those numbers were down significantly from 2013.

NASS also released the Small Grains 2014 Summary.  Growers harvested 46.5 million acres of wheat this year, up 3 percent from 2013.  The levels of production and changes from 2013 by type are winter wheat, 1.38 billion bushels, down 11 percent; other spring wheat, 601 million bushels, up 12 percent; and Durum wheat, 57.1 million bushels, down 2 percent.

Oat production is estimated at 70.5 million bushels, up 9 percent from 2013, but the fourth lowest production on record.  Harvested area, at 1.04 million acres, is 3 percent above last year but is the third lowest acreage harvested for grain on record.

Source NAFB News