WASHINGTON — Wheat stored in all positions on Dec. 1 totaled 1,524,590,000 bus, up 3% from 1,474,851,000 bus on Dec. 1, 2013, the U.S. Department of Agriculture said in its Jan. 12 Grain Stocks report. Dec. 1 corn stocks were up 7% from last year at 11,202,714,000 bus, and soybean stocks were up 17% at 2,523,651,000 bus.
The U.S.D.A. wheat stocks number was above the average pre-report trade expectation of 1,501 million bus, the corn number was above the trade average of 11,161 million bus, and the soybean number was below the trade average of 2,608 million bus.
Wheat futures prices traded lower after the report while corn futures traded higher. Soy complex futures were sharply lower.
On-farm stocks of wheat were 472,550,000 bus, up 19% from 398,400,000 a year ago, while off-farm stocks were 1,052,040,000 bus, down 2% from 1,076,451,000 bus. Indicated disappearance of wheat during the September-November period was 383 million bus, down 3% from the same period last year, the U.S.D.A. said.
Durum stocks were 41,979,000 bus, down 22% from 53,975,000 bus a year ago. On-farm stocks of 22,000,000 bus were down 33% from 32,800,000 bus a year ago while off-farm stocks of 19,979,000 bus were down 6% from 21,175,000 bus. Indicated disappearance during the September-November period was 15.8 million bus, up 28% from a year earlier, the U.S.D.A. said.
On-farm stocks of corn totaled 7,087,000,000 bus on Dec. 1, up 11% from 6,380,000 bus a year earlier, while off-farm supplies were 4,115,714,000 bus, up 1% from 4,072,532,000 bus. Indicated disappearance of corn during the September-November period was 4.25 billion bus, down 1% from 4.29 billion bus in the same period a year earlier, the U.S.D.A. said.
On-farm soybean stocks were 1,218,000,000 bus, up 28% from 955,000,000 bus on Dec. 1, 2013, while off-farm stocks totaled 1,305,651,000 bus, up 9% from 1,198,621,000 bus. Indicated disappearance during September-November was 1.54 billion bus, up 14% from the same period a year earlier.Dec. 1 stocks of other grains were: barley, 157,718,000 bus, down 7% from Dec. 1, 2013; oats, 62,207,000 bus, up 29%; and grain sorghum, 229,086,000 bus, down 1%.