March 1 wheat stocks down 15%, corn up 30%
by Laura Lloyd
WASHINGTON — Wheat stored in all positions on March 1 totaled 1,055,531,000 bus, down 15% from 1,234,830,000 bus on March 1, 2013, the U.S. Department of Agriculture said in its March 31 Grain Stocks report.
On-farm stocks of wheat were 237,530,000 bus, up slightly from 236,970,000 bus a year ago, while off-farm stocks were 818,001,000 bus, down 18% from 997,860,000 bus last year. Indicated disappearance of wheat during the December 2013-February 2014 period was 419 million bus, down 4% from the same period a year earlier, the U.S.D.A. said.
The U.S.D.A. all wheat stocks number was above pre-report trade expectations that averaged about 1,034 million bus.
Durum stocks on March 1 were 38,141,000 bus, down 10% from 42,488,000 bus a year ago. On-farm durum stocks were 20,700,000, down 3% from a year earlier, while off-farm stocks were 17,441,000 bus, down 17%. Indicated disappearance during the December-February period was 15.8 million bus, down 14% from a year earlier, the U.S.D.A. said.
Stocks of corn in all positions on March 1 totaled 7,005,932,000 bus, up 30% from 5,339,926,000 bus a year ago. On-farm corn stocks were 3,860,500 bus, up 45% from last year, and off-farm stocks were 3,145,432,000 bus, up 15% from a year ago. Indicated disappearance of corn during the December-February period was 3.45 billion bus, up 31% from the same period last year, the U.S.D.A. said.
Soybean stocks in all positions were 992,325,000 bus, down 1% from 998,020,000 bus on March 1, 2013, the U.S.D.A said. On-farm stocks were 381,900,000 bus, down 16% from last year, and off-farm stocks totaled 610,425,000 bus, up 13%. Indicated disappearance during December-February was 1.16 billion bus, up 20% from the same period a year earlier, the U.S.D.A. said.
The U.S.D.A. stocks numbers were below trade expectations for corn, which averaged 7,110 million bus, and were above for soybeans, which averaged 989 million bus.
March 1, 2014, grain sorghum stocks in all positions totaled 172,527,000 bus, up 88% from a year ago, oats stocks totaled 35,131,000 bus, down 33%, and barley stocks totaled 121,511,000 bus, up 4%.