Wheat stocks up 11% from year ago, corn up 2%

by Ron Sterk
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WASHINGTON — Wheat stored in all positions on Sept. 1 totaled 2,458,849,000 bus, up 11% from 2,209,338,000 bus on Sept. 1, 2009, the U.S. Department of Agriculture said in its latest Grain Stocks report. Sept. 1 old crop corn stocks were up 2% at 1,707,566,000 bus, and old crop soybean stocks were up 9% at 151,121,000 bus.

The U.S.D.A. stocks numbers for wheat and corn were above the average of pre-report trade expectations while the soybean number was as expected.

On-farm stocks of wheat were 826,000,000 bus, down 1% from 836,000,000 bus a year ago, while off-farm stocks were 1,632,859,000 bus, up 19% from 1,373,338,000 bus last year. Indicated disappearance of wheat during the June-August period was 740 million bus, up 12% from the same period last year, the U.S.D.A. said.
Durum stocks were 105,791,000 bus, up 4% from 101,786,000 bus a year ago. On-farm stocks of 76,800,000 bus were up 4% from a year ago while off-farm stocks of 28,991,000 bus were up 5%. Indicated disappearance during the June-August period was 40.2 million bus, up 24% from a year ago, the U.S.D.A. said.

On farm stocks of old crop corn totaled 485,100,000 bus on Sept. 1, down 20% from a year earlier, while off-farm supplies were 1,222,466,000 bus, up 15%. Indicated disappearance of corn during the June-August period was 2.60 billion bus, up slightly from 2.59 billion bus in the same period last year, the U.S.D.A. said.

Old crop on-farm soybean stocks were 35,400,000 bus, up 1% from Sept. 1, 2009, while off-farm stocks totaled 115,721,000 bus, up 12%. Indicated disappearance during June-August was 420 million bus, down 8% from the same period a year earlier.

Sept. 1 stocks of other grains were: barley, 224,994,000 bus, down 6% from 2009; oats, 117,448,000 bus, down 9%; old crop grain sorghum, 41,241,000 bus, down 25%; and old crop sunflowerseed, 358,567,000 lbs, down 27%, including 297,127,000 lbs of oil type, down 30%.

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