WASHINGTON — The National Agricultural Statistics Service of the US Department of Agriculture, in its quarterly Grain Stocks report issued March 31, said stocks of wheat held in all positions in the United States on March 1 totaled 1,236,945,000 bus, up 148,236,000 bus, or 14%, from 1,088,709,000 bus as the wheat inventory on March 1, 2024. It was the largest March 1 wheat holdings since 1,310,790,000 bus in 2021 and compared with the five-year average all-wheat March 1 inventory at 1,157 million bus. The average of pre-report trade estimates for March 1 all-wheat stocks was 1,215 million bus.

Of the March 1 US wheat inventory, 307,125,000 bus, or 25%, was held in storage on farms.

NASS estimated the disappearance of wheat during the December-February quarter at 336,039,000 bus, up 1% from 333,630,000 bus in the third quarter of 2023-24. 

The largest regional March 1 wheat inventory was held in the hard red winter wheat states of the Southwest — Colorado, Kansas, Nebraska, Oklahoma and Texas. Southwest wheat stocks totaled 450,479,000 bus, up 141,165,000 bus, or 46%, from 309,260,000 bus on March 1, 2024. The Southwest inventory comprised 41% of all US wheat stocks. Only 25,500,000 bus, or 6%, of all stocks in the region were held on farms.

The second-largest March 1 regional wheat inventory was held in the spring wheat states of the Upper Midwest — Minnesota, Montana, North Dakota and South Dakota. At 389,386,000 bus, Upper Midwest wheat stocks were up 30,628,000 bus, or 8.5%, from 358,758,000 bus on March 1, 2024. The Upper Midwest inventory comprised 31% of all US wheat stocks. Wheat stored on farms totaled 232,000,000 bus, or 60%, of the region’s total. Upper Midwest on-farm wheat stocks accounted for 76% of all wheat stocks held on US farms.

March 1 wheat stocks in the Central states — Missouri, Illinois, Indiana, Ohio and Michigan — the most important region for soft red winter wheat, totaled 139,803,000 bus, down 5% from 146,471,000 bus a year earlier. Only 5%, or 6,910,000 bus, of the region’s stocks was held on farms.        

Wheat stocks held in the Pacific Northwest states — Idaho, Oregon and Washington — on March 1 totaled 147,143,000 bus, down 4,771,000 bus, or 3%, from 151,914,000 bus a year earlier. On-farm stocks at 29,400,000 bus accounted for 20% of the region’s March 1 holdings.