Sept. 1 wheat, corn stocks down, soybeans up
September 28, 2007
by Ron Sterk
WASHINGTON — Wheat stored in all positions on Sept. 1 totaled 1,716,731,000 bus, down 2% from Sept. 1, 2006, the U.S. Department of Agriculture said in its latest Grain Stocks report (click here to read report).
Indicated disappearance of wheat during the June-August quarter was 806 million bus, up from 27% from the same period last year, the U.S.D.A. said. The wheat stocks number was below the average of pre-report trade expectations as well as below the low end of the range.
Durum stocks were 69,464,000 bus, up 10% from a year ago. Indicated disappearance during the June-August period was 23.6 million bus, down 23% from the same period a year ago.
Stocks of corn on Sept. 1 totaled 1,303,760,000 bus, down 34% from a year ago. Indicated disappearance of corn during the June-August quarter was 2,230 million bus, down 7% from the same period last year.
Old crop soybean stocks in all positions were 572,778,000 bus, up 27% from last year and the largest on record for Sept. 1, the U.S.D.A said. Indicated disappearance during June-August was 519 million bus, down 4% from last year.
The U.S.D.A. stocks numbers for corn and soybeans were above the average of trade expectations as well as above the high end of the range of expectations.
Sunflowerseed stocks on Sept. 1 were 302,700,000 lbs, down 61% from a year ago. Stocks of oil type sunflowerseed were 128,532,000 lbs, down 79% from Sept. 1, 2006.
Grain sorghum stocks totaled 32,052,000 bus, down 51% from a year ago. Oats stocks were 88,322,000 bus, down 12%, and barley stocks on Sept. 1 were 188,690,000 bus, down 11%.