USDA Grain Stocks: Corn Down 15 Per Cent

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USDA Grain Stocks: Corn Down 15 Per Cent

01 July 2011

US - USDA released the June 2011 Grain Stocks report today, indicating lower corn and wheat stocks and higher soybean stocks.

Corn stocks down 15 per cent from June 2010
Soybean stocks up 8 per cent
All wheat stocks down 12 per cent

Corn stocks in all positions on June 1, 2011 totaled 3.67 billion bushels, down 15 per cent from June 1, 2010. Of the total stocks, 1.68 billion bushels are stored on farms, down 21 per cent from a year earlier. Off-farm stocks, at 1.99 billion bushels, are down 9 per cent from a year ago. The March - May 2011 indicated disappearance is 2.85 billion bushels, compared with 3.38 billion bushels during the same period last year.

Soybeans stored in all positions on June 1, 2011 totaled 619 million bushels, up 8 per cent from June 1, 2010. On-farm stocks totaled 218 million bushels, down 6 per cent from a year ago. Off-farm stocks, at 401 million bushels, are up 19 per cent from a year ago. Indicated disappearance for the March - May 2011 quarter totaled 630 million bushels, down 10 per cent from the same period a year earlier.

All wheat stored in all positions on June 1, 2011 totaled 861 million bushels, down 12 per cent from a year ago. On-farm stocks are estimated at 131 million bushels, down 38 per cent from last year. Off-farm stocks, at 730 million bushels, are down 5 per cent from a year ago. The March - May 2011 indicated disappearance is 565 million bushels, up 48 per cent from the same period a year earlier.

Durum wheat stocks in all positions on June 1, 2011 totaled 35.2 million bushels, up 2 per cent from a year ago. On-farm stocks, at 22.1 million bushels, are down 8 per cent from June 1, 2010. Off-farm stocks totaled 13.1 million bushels, up 22 per cent from a year ago. The March - May 2011 indicated disappearance of 21.2 million bushels is up 2 per cent from the same period a year earlier.

Barley stocks in all positions on June 1, 2011 totaled 89.4 million bushels, down 23 per cent from June 1, 2010. On-farm stocks are estimated at 26.0 million bushels, 36 per cent below a year ago. Off-farm stocks, at 63.3 million bushels, are 16 per cent below June 1, 2010. The March - May 2011 indicated disappearance is 48.8 million bushels, 17 per cent above the same period a year earlier.

Oats stored in all positions on June 1, 2011 totaled 67.6 million bushels, 16 per cent below the stocks on June 1, 2010. Of the total stocks on hand, 14.6 million bushels are stored on farms, 17 per cent lower than a year ago. Off-farm stocks totaled 53.0 million bushels, 15 per cent below the previous year. Indicated disappearance during March - May 2011 totaled 18.7 million bushels, compared with 17.7 million bushels during the same period a year ago.

Grain sorghum stored in all positions on June 1, 2011 totaled 80.1 million bushels, down 9 per cent from a year ago. On-farm stocks, at 3.14 million bushels, are down 71 per cent from last year. Off-farm stocks, at 76.9 million bushels, are down slightly from June 1, 2010. The March - May 2011 indicated disappearance from all positions is 91.0 million bushels, up 4 per cent from the same period last year.

Pulse crops stored in all positions on June 1, 2011 and the change from June 1, 2010 are: dry edible peas, 3.71 million cwt, down 8 per cent; lentils, 1.74 million cwt, up 353 per cent; Austrian winter peas, 90,000 cwt, up 50 per cent; all chickpeas, 329,000 cwt, up 16 per cent; small chickpeas, 95,000 cwt, up 10 per cent; and large chickpeas, 234,000 cwt, up 18 per cent. Small chickpeas are defined as peas that will pass through a 20/64 inch round hole screen.