Soy, Wheat, Grain Stocks Drop 10 Percent

Expectations of lower soybean stockpiles were realized among Tuesday’s bevy of reports from the USDA, as farmers and elevators reported having 10 percent fewer beans on hand to start December. The quarterly grain stocks report indicated that 2.93 billion bushels were on hand as of December 1st, with 1.31 billion siloed on the farm. A total of 1.73 billion bushels were used or exported over the fall, a 43 percent jump from the previous year. Missouri’s stockpiles fell 16 percent from the previous year, starting December at 158.4 million bushels. 92 million of that was on the farm.

Wheat stockpiles also fell by nearly 10 percent from year-ago levels. All wheat stored totaled 1.67 billion bushels, with 483 million still on the farm. Disappearance decreased four percent from the previous year at 484 million bushels. Missouri farmers and elevators held onto 16.1 million bushels of wheat, down nine percent from a year ago. Two million remained on the farm. 8.5 million bushels left the state’s elevators, down three percent.

Corn stockpiles started December at 11.3 billion bushels, fractionally lower from the previous year. Just over seven billion bushels were on the farm, while disappearance was six percent higher at 4.78 billion bushels. However, Missouri’s stockpiles rose by almost 60 million bushels to 396.3 million. 285 million of that was on the farm.