Soybean, Grain Stocks Higher Than A Year Ago

More grains were on hand to start September compared to a year ago.  USDA’s Grain Stocks report indicates an increase in soybean stocks by seven percent to 274 million bushels.  Disappearance during the summer totaled 211 million bushels, up 12 percent from a year ago.  Much of that increase is in other states, as Missouri farms and elevators held onto just 13 million bushels last month, down 35 percent from a year ago.  3.7 million bushels were still in farm silos.  Just over 36 million bushels left the state during the summer.

Corn stockpiles totaled 1.38 billion bushels last month, up 12 percent from last year, with 2.97 billion bushels being exported or consumed during the summer.  Again those larger stockpiles were not in Missouri, as the state’s volume decreased 32 percent from a year ago to 34.2 million bushels.  17 million bushels were still on the farm.  Shipments out of state and consumption totaled 95.8 million bushels during the summer.

The state also had 21 percent more wheat on hand to start September.  Stockpiles totaled just over 34.5 million bushels, with 13 million still on the farm.  Over 8.5 million bushels left the state or were consumed during the summer.  Missouri also held onto 641,000 bushels of sorghum at the start of September, an increase of 435,000 bushels from a year ago.  244,000 bushels left the state.

USDA used the quarterly report, marking the end of the previous marketing year, to make revisions to last season’s crop production.  The report nudged corn production down 41 million bushels to 15.07 billion bushels, while soybean production was increased 30 million bushels to 4.47 billion bushels.  Yields were also adjusted, with corn reduced slightly to 176.7 bushels per acre, while soy was raised three-tenths of a bushel per acre to 51.7.  Missouri’s soy production for 2021 was reduced to 545.4 million bushels, after yield shifted one bushel per acre lower to 59.  The state’s corn production was left unchanged.