WASHINGTON – Wheat stored in all positions on March 1 totaled 1,124,398,000 bus, up 6% from 1,056,965,000 bus on March 1, 2014, the U.S. Department of Agriculture said in its March 31 Grain Stocks report.
On-farm stocks of wheat were 278,710,000 bus, up 17% from 237,530,000 bus a year ago, while off-farm stocks were 845,688,000 bus, up 3% from 819,435,000 bus in 2014. Indicated disappearance of wheat during the December 2014-February 2015 period was 405 million bus, down 3% from the same period a year earlier, the U.S.D.A. said.
The U.S.D.A. all wheat stocks number was below pre-report trade expectations that averaged about 1,143 million bus.
Durum stocks on March 1 were 37,622,000 bus, down 1% from 38,130,000 bus a year ago. On-farm durum stocks were 16,200,000 bus, down 22% from a year earlier, while off-farm stocks were 21,422,000 bus, up 23%. Indicated disappearance during the December-February period was 6.43 million bus, down 59% from a year earlier, the U.S.D.A. said.
Stocks of corn in all positions on March 1 totaled 7,744,906,000 bus, up 11% from 7,008,123,000 bus a year ago. On-farm corn stocks were 4,380,000,000 bus, up 13% from last year, and off-farm stocks were 3,364,906,000 bus, up 7% from a year ago. Indicated disappearance of corn during the December-February period was 3.47 billion bus, up about 1% from the same period last year, the U.S.D.A. said.
Soybean stocks in all positions were 1,333,722,000 bus, up 34% from 993,828,000 bus on March 1, 2014, the U.S.D.A said. On-farm stocks were 609,200,000 bus, up 60% from last year, and off-farm stocks totaled 724,522,000 bus, up 18%. Indicated disappearance during December-February was 1.19 billion bus, up 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 7,628 million bus, and were below for soybeans, which averaged 1,341 million bus.