Despite Supply Issues, Missouri Holding Onto More Wheat

America’s farms and elevators may be holding onto less wheat amid rising demand and questions about future supply, but Missouri’s stockpiles actually increased in March compared to a year ago.  USDA’s Grain Stocks report indicates that Missouri started March with 14.8 million bushels, up 44 percent from a year ago as a reflection of the state’s increased production.  12.5 million bushels have made their way to Missouri elevators.  5.6 million bushels left the state or were consumed during the winter.  Nationwide, wheat stocks are down 22 percent at 1.02 billion bushels, with 174 million still on the farm.  353 million bushels were exported or put to use in the U.S., down ten percent.

Missouri stockpiles of corn also diverged from the national trend.  Just over 204 million bushels were on hand, down 25 percent from a year ago.  However, increased cash prices resulted in a larger percentage of Missouri’s stocks arriving at off-farm locations, totaling 84 million bushels.  Just under 130 million bushels left the state in the winter.  Corn stocks nationwide were up two percent at 7.85 billion bushels, including 4.08 billion on the farm.  Disappearance during the winter totaled 3.79 billion bushels, up 190 million.  Missouri’s sorghum stockpiles exceeded one million bushels to start March, up 58 percent.

Soybean stocks in Missouri increased less than one percent from a year ago at 97.6 million bushels.  More of the stocks were at the elevator, as Missouri farmers held onto 46 million bushels, down three million.  69.2 million bushels left the state or were put to use over the winter.  Nationally soy stocks surged 24 percent higher to 1.93 billion bushels.  On-farm storage totaled 750 million bushels, up 26 percent.  Disappearance was down 12 percent from a year ago at 1.22 billion bushels.

Rice stores in the Bootheel were 18 percent lower than a year ago at 448.1 million pounds.  366 million pounds left the state or were consumed during the winter.  The nation’s rice stores were lighter by eight percent at 9.1 billion pounds.