Missouri Continues Holding Onto Corn, Soy Stocks

America’s grain stocks were lower at the start of June for major commodities, but inventories remain higher in Missouri.

Corn inventories totaled 4.11 billion bushels nationwide, down six percent from a year ago.  However, a majority of the crop was still in farm silos and grain bins at 2.22 billion bushels, compared to 1.89 billion off-farm.  3.3 billion bushels were exported or put to use during the spring, down three percent.  Missouri’s corn stocks were greater than a year ago at 136.7 million bushels.  An extra ten million were still on the farm, at 90 million, while elevator stocks were down 3.3 million bushels at 46.7 million.

Soybean stocks remain double-digits lower year-over-year, with 795.6 million bushels still on hand.  That’s an 18 percent drop from last year’s mark, as just 472.8 million bushels are at the elevator, and 322.8 million are on the farm.  Disappearance nationwide was down eight percent this spring at 891 million bushels.  However, even with last year’s lower production, Missouri’s silos are still full of beans.  A 27-percent increase from last year has the state’s soy holdings at 62.1 million.  A 50-percent jump in on-farm holdings is a significant reason, with Missouri farmers still storing 33 million bushels.  29.1 million bushels are off-farm.

The nation’s wheat stockpiles are down 17 percent from a year ago at 580.1 million bushels.  Ahead of this season’s harvest, 124.4 million bushels were still on the farm, up 34 percent, resulting in off-farm stocks totaling 455.7 million bushels.  However, disappearance this spring was up 11 percent at 365.8 million.  Missouri held onto 8.89 million bushels at the start of June, down 20 percent from a year ago.  Just 950,000 bushels were still on the farm.

Missouri’s sorghum stocks are down to 335,000 bushels, down 62 percent from a year ago.  Nationwide stocks on June first are less than half last year’s total, at just under 53 million bushels.  Rice stocks plummeted 23 percent nationwide, totaling 4.38 billion pounds.  That included 261 million pounds of the grain in Missouri.  Around 3.27 billion pounds were consumed or exported during the spring nationwide, including 148 million pounds from Missouri’s stockpiles.