March 1 wheat stocks up, corn and soybeans down

by Laura Lloyd
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WASHINGTON — Wheat stored in all positions on March 1 totaled 1,234,118,000 bus, up 3% from 1,199,345,000 bus on March 1, 2012, the U.S. Department of Agriculture said in its March 28 Grain Stocks report.

On-farm stocks of wheat were 236,770,000 bus, up 9% from 217,100,000 bus a year ago, while off-farm stocks were 997,348,000 bus, up 2% from 982,245,000 bus last year. Indicated disappearance of wheat during the December 2012-February 2013 period was 436 million bus, down 6% from the same period a year ago, the U.S.D.A. said.

The U.S.D.A. all wheat stocks number was above pre-report trade expectations that averaged about 1,167 million bus.

Durum stocks on March 1 were 42,396,000 bus, up 18% from 35,799,000 bus a year ago. On-farm durum stocks were 21,400,000, up 20% from a year earlier, while off-farm stocks were 20,996,000 bus, up 17%. Indicated disappearance during the December-February period was 18.6 million bus, up 52% from a year earlier, the U.S.D.A. said.

Stocks of corn in all positions on March 1 totaled 5,398,944,000 bus, down 10% from 6,023,356,000 bus a year ago. On-farm corn stocks were 2,669,200,000 bus, down 16% from last year, and off-farm stocks were 2,729,744,000 bus, down 4% from a year ago. Indicated disappearance of corn during the December-February period was 2.63 billion bus, down 27% from the same period last year, the U.S.D.A. said.

Soybean stocks in all positions were 999,280,000 bus, down 27% from 1,374,488,000 bus on March 1, 2012, the U.S.D.A said. On-farm stocks were 456,700,000 bus, down 18% from last year, and off-farm stocks totaled 542,580,000 bus, down 34%. Indicated disappearance during December-February was 967 million bus, down 3% from the same period a year earlier, the U.S.D.A. said.

The U.S.D.A. stocks numbers were above trade expectations for corn, which averaged 5,030 million bus, and for soybeans, which were 947 million bus.

March 1, 2013, grain sorghum stocks in all positions totaled 91,391,000 bus, down 15% from a year ago, oats stocks totaled 52,592,000 bus, down 30%, and barley stocks totaled 116,345,000 bus, up 24%.
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