March 1 wheat, corn stocks up, soybeans down

by Ron Sterk
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WASHINGTON — Wheat stored in all positions on March 1 totaled 1,352,333,000 bus, up 30% from 1,040,064,000 bus on March 1, 2009, the U.S. Department of Agriculture said in its latest Grain Stocks report.

On-farm stocks of wheat were 348,200,000 bus, up 24% from 280,400,000 bus a year ago, while off-farm stocks were 1,004,133,000 bus, up 32% from 759,664,000 bus last year. Indicated disappearance of wheat during the December-February period was 429 million bus, up 12% from the same period last year, the U.S.D.A. said.

The wheat stocks number was slightly below pre-report trade expectations that averaged about 1,364 million bus.

Durum stocks were 55,647,000 bus, up 72% from 32,271,000 bus a year ago. Indicated disappearance during the December-February period was 20.1 million bus, up 65% from a year earlier.

Stocks of corn on March 1 totaled 7,693,940,000 bus, up 11% from 6,954,145,000 bus a year ago. On-farm corn stocks were 4,548,000,000 bus, up 11% from last year, and off-farm stocks were 3,145,940,000 bus, up 10%. Indicated disappearance of corn during the December-February period was 3.23 billion bus, up about 4% from the same period last year, the U.S.D.A. said.

Soybean stocks in all positions were 1,270,006,000 bus, down 2% from 1,301,789,000 bus on March 1, 2009, the U.S.D.A said. On-farm stocks were 609,200,000 bus, down 7% from last year, and off-farm stocks totaled 660,806,000 bus, up 2%. Indicated disappearance during December-February was 1.07 billion bus, up 10% from the same period a year earlier, the U.S.D.A. said.

The U.S.D.A. stocks numbers for corn and soybeans were above trade expectations, which averaged 7,505 million bus for corn and 1,207 million bus for soybeans.

March 1 sorghum stocks in all positions totaled 175,261,000 bus, down 15% from a year ago, oats stocks were 98,026,000 bus, up 3%, and barley stocks were 157,399,000 bus, up 22%.

Stocks of all types of sunflowerseed totaled 1,206,399,000 lbs on March 1, up 6% from a year earlier, and included 991,982,000 lbs of oil varieties, up 8%, and 214,417,000 lbs of non-oil varieties, down 3%, the U.S.D.A. said.

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