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USDA Grain Stocks Report Released

The United States Department of Agriculture released the September 30, 2014 Report Today.

Corn Stocks Up 50 Percent from September 2013

Soybean Stocks Down 35 Percent

All Wheat Stocks Up 2 Percent

Old crop corn stocks in all positions on September 1, 2014 totaled 1.24 billion bushels, up 50 percent from

September 1, 2013. Of the total stocks, 462 million bushels are stored on farms, up 68 percent from a year earlier.

Off-farm stocks, at 774 million bushels, are up 42 percent from a year ago. The June - August 2014 indicated disappearance is 2.62 billion bushels, compared with 1.95 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2014 totaled 92.0 million bushels, down 35 percent from September 1, 2013. Soybean stocks stored on farms totaled 21.3 million bushels, down 46 percent from a year ago.

Off-farm stocks, at 70.6 million bushels, are down 30 percent from last September. Indicated disappearance for June - August 2014 totaled 313 million bushels, up 6 percent from the same period a year earlier.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2013 soybean production is revised to 3.36 billion bushels, up 69.2 million bushels from the previous estimate. Planted area is revised up 307,000 acres to 76.8 million acres, and harvested area is revised up 384,000 acres to 76.3 million acres. The 2013 yield, at 44.0 bushels per acre, is up 0.7 bushel from the previous estimate.

A table with 2013 acreage, yield, and production estimates by States is included on page 17 of this report.

All wheat stored in all positions on September 1, 2014 totaled 1.91 billion bushels, up 2 percent from a year ago. On-farm stocks are estimated at 722 million bushels, up 30 percent from last September. Off-farm stocks, at 1.19 billion bushels, are down 9 percent from a year ago. The June - August 2014 indicated disappearance is 711 million bushels, down 28 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2014 totaled 60.2 million bushels, down 9 percent from a year ago.

On-farm stocks, at 41.4 million bushels, are down 4 percent from September 1, 2013. Off-farm stocks totaled 18.9 million bushels, down 20 percent from a year ago. The June - August 2014 indicated disappearance of 18.4 million bushels is up 25 percent from the same period a year earlier.

Here is a link to the full USDA Grain Stocks Report: http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1079

More Analysis of the report:

Good: September 1 Grain Stocks Estimates Provide No Support for Prices http://www.farms.com/ExpertsCommentary/good-september-1-grain-stocks-estimates-provide-no-support-for-prices-82349.aspx

 

New contract lows on corn and wheat futures after a bearish 14 USDA September 1 quarterly grain stocks report: http://www.farms.com/markets

Were the Analysts Correct?

Here is a link to the CME Report Preview Analysis Video: http://www.farms.com/ExpertsCommentary/video-ask-the-experts-usda-quarterly-grain-stocks-small-grains-reports-82256.aspx

 

 

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