Sept. 1 wheat stocks down 12%, corn down 34%

by Ron Sterk
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WASHINGTON — Wheat stored in all positions on Sept. 1 totaled 2,150,073,000 bus, down 12% from 2,449,617,000 bus on Sept. 1, 2010, the U.S. Department of Agriculture said in its latest Grain Stocks report. Sept. 1 old crop corn stocks were down 34% at 1,128,245,000 bus, and old crop soybean stocks were up 42% at 214,663,000 bus.

The U.S.D.A. stocks numbers for wheat and corn were above the average of pre-report trade expectations while the soybean number was below expectations.

On-farm stocks of wheat were 641,500,000 bus, down 21% from 812,100,000 a year ago, while off-farm stocks were 1,508,573,000 bus, down 8% from 1,637,517,000 bus last year. Indicated disappearance of wheat during the June-August period was 720 million bus, down 2% from the same period last year, the U.S.D.A. said.

Durum stocks were 65,228,000 bus, down 35% from 100,131,000 bus a year ago. On-farm stocks of 36,400,000 bus were down 49% from 71,200,000 bus a year ago while off-farm stocks of 28,828,000 bus were down slightly from 28,931,000 bus in 2010. Indicated disappearance during the June-August period was 22.1 million bus, down 45% from a year ago, the U.S.D.A. said.

On farm stocks of old crop corn totaled 314,950,000 bus on Sept. 1, down 35% from 485,100,000 bus a year earlier, while off-farm supplies were 813,295,000 bus, down 33% from 1,222,687,000 bus in 2010. Indicated disappearance of corn during the June-August period was 2.54 billion bus, down 2% from 2.6 billion bus in the same period last year, the U.S.D.A. said.

Old crop on-farm soybean stocks were 48,500,000 bus, up 37% from 35,400,000 bus on Sept. 1, 2010, while off-farm stocks totaled 166,163,000 bus, up 44% from 115,485,000 bus in 2010. Indicated disappearance during June-August was 405 million bus, down 4% from the same period a year earlier.

Sept. 1 stocks of other grains were: barley, 174,357,000 bus, down 22% from 2010; oats, 78,414,000 bus, down 33%; old crop grain sorghum, 27,450,000 bus, down 33%; and old crop sunflowerseed, 258,669,000 lbs, down 34%, including 134,519,000 lbs of oil type, down 58%.

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