Grain Stocks Continue Decline

The nation’s grain stocks continued shrinking over the winter, amid increased international demand and a smaller than expected harvest. USDA’s Quarterly Grain Stocks report indicated that as of March first, seven-point-seven billion bushels of corn were in the nation’s grain bins and elevators, down three percent from a year ago. Just over four billion were sitting in farm silos. Indicated disappearance over the winter increased six percent at three-point-five-nine billion bushels.

Soybean stocks fell 31 percent from a year ago at one-point-five-six billion bushels. 594 million bushels were still on the farm, down 41 percent. Indicated disappearance jumped 39 percent at one-point-three-eight billion bushels. Wheat stocks decreased seven percent at one-point-three-one billion bushels, including 284 million still on the farm. Disappearance since December was down nine percent at 388 million bushels.

Grain sorghum stockpiles are down 17 percent from a year ago at 137 million bushels. Just five-point-one million bushels remain on the farm, and 83-point-one million bushels made their way to customers and export markets this winter. Rough rice stockpiles were up 15 percent at nine-point-eight-seven billion pounds. Two billion of that was reported on the farm.

More corn made their way to Missouri elevators over the winter. As of March first, 107-point-one million bushels were off farm, up 21 percent. That accounted for all the rise in the state’s corn stockpiles, as 165 million bushels were reported in farm grain bins. 126 million bushels left the state this winter. Soybean stocks fell 15 percent to 96-point-nine million bushels, with just over half still on the farm. Almost 64-million bushels of beans left Missouri in the past three months.

Wheat in storage was down 22 percent at 10-point-three million bushels, while 677-thousand bushels of sorghum were on hand, down two percent. Missouri reported having 548 million pounds of rice in storage to start March, up 18 percent.