Grain stockpiles across the U.S. were lower at the start of March, yet there’s more available in the Show-Me State and not as much leaving the farm. USDA’s Quarterly Grain Stocks report indicated a five-percent drop in corn stockpiles compared to a year ago at 7.4 billion bushels. A majority of the crop is still in farmer silos at 4.11 billion bushels, while the remaining 3.29 billion are off-farm. Disappearance during the winter totaled 3.42 billion bushels, down 460 million bushels from a year ago.
Soybean stocks were down double-digits from a year ago at 1.69 billion bushels. That’s a year-over-year decrease of 13 percent. Oddly, on-farm stocks are level with a year ago at 750 million bushels, while off-farm elevators had just 936 million bushels on hand. Usage and exports increased 11 percent to 1.34 billion bushels.
While national stockpiles decreased, Missouri’s inventories were staying put in greater numbers. Almost a quarter-billion bushels of corn was still in the state at the start of March, up 23 percent from a year ago. 160 million bushels were on the farm, while 89.9 million were at the elevator. 111.4 million bushels left the state during the winter. Soybean stockpiles were up 28 percent at 125.6 million bushels, including 71 million still in farm silos and 54.6 million bushels off-farm. Just under 74.5 million bushels left Missouri during the winter.