March 1 stocks up: wheat 6%, corn 11%, soybeans 34%

by Laura Lloyd
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WASHINGTON – Wheat stored in all positions on March 1 totaled 1,124,398,000 bus, up 6% from 1,056,965,000 bus on March 1, 2014, the U.S. Department of Agriculture said in its March 31 Grain Stocks report.

On-farm stocks of wheat were 278,710,000 bus, up 17% from 237,530,000 bus a year ago, while off-farm stocks were 845,688,000 bus, up 3% from 819,435,000 bus in 2014. Indicated disappearance of wheat during the December 2014-February 2015 period was 405 million bus, down 3% from the same period a year earlier, the U.S.D.A. said.

The U.S.D.A. all wheat stocks number was below pre-report trade expectations that averaged about 1,143 million bus.

Durum stocks on March 1 were 37,622,000 bus, down 1% from 38,130,000 bus a year ago. On-farm durum stocks were 16,200,000 bus, down 22% from a year earlier, while off-farm stocks were 21,422,000 bus, up 23%. Indicated disappearance during the December-February period was 6.43 million bus, down 59% from a year earlier, the U.S.D.A. said.

Stocks of corn in all positions on March 1 totaled 7,744,906,000 bus, up 11% from 7,008,123,000 bus a year ago. On-farm corn stocks were 4,380,000,000 bus, up 13% from last year, and off-farm stocks were 3,364,906,000 bus, up 7% from a year ago. Indicated disappearance of corn during the December-February period was 3.47 billion bus, up about 1% from the same period last year, the U.S.D.A. said.

Soybean stocks in all positions were 1,333,722,000 bus, up 34% from 993,828,000 bus on March 1, 2014, the U.S.D.A said. On-farm stocks were 609,200,000 bus, up 60% from last year, and off-farm stocks totaled 724,522,000 bus, up 18%. Indicated disappearance during December-February was 1.19 billion bus, up 3% from the same period a year earlier, the U.S.D.A. said.

The U.S.D.A. stocks numbers were above trade expectations for corn, which averaged 7,628 million bus, and were below for soybeans, which averaged 1,341 million bus.

March 1, 2015, grain sorghum stocks in all positions totaled 118,544,000 bus, down 33% from a year ago, oats stocks totaled 59,360,000 bus, up 69%, and barley stocks totaled 117,899,000 bus, down 3%.
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