No Big Surprises in USDA Stocks Report

Apr 01, 2025

The USDA quarterly grain stocks report on Monday contained no major surprises, with March 1 stockpiles of both corn and soybeans coming in about as expected. Wheat stocks were just slightly above trade ideas.

The report pegged nationwide corn stocks as of March 1 at 8.15 billion bu, down 2% from a year earlier but almost exactly on par with the average pre-report trade guess of 8.154 billion. At 1.91 billion bu, soybean stocks as of March 1 were up 4% from last year and also near the near the average guess of 1.905 billion. All wheat stocks were reported at 1.24 billion bu, an increase of 14% on the year and compared to the average trade guess of 1.221 billion.

Of the total corn stocks, 4.5 billion bu were stored on farms, down 11% from a year earlier, while off-farm stocks were up 12% at 3.65 billion. The December 2024 - February 2025 indicated disappearance was 3.92 billion bu, compared with 3.82 billion during the same period last year.
On-farm soybean stocks as of March 1 were estimated at 877 million bu, down 6% on the year, while off-farm stocks were 13% higher at 1.03 billion. Indicated disappearance for the December 2024 - February 2025 quarter was 1.19 billion bu, up 3% compared to the same period a year earlier.

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Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.