Home Indiana Agriculture News USDA Drops Corn Stocks, Increases Soybeans

USDA Drops Corn Stocks, Increases Soybeans

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Old crop corn stocks in all positions on September 1, 2019 totaled 2.11 billion bushels, down 1 percent from September 1, 2018. Of the total stocks, 753 million bushels are stored on farms, up 22 percent from a year earlier. Off-farm stocks, at 1.36 billion bushels, are down 10 percent from a year ago. The June – August 2019 indicated disappearance is 3.09 billion bushels, compared with 3.16 billion bushels during the same period last year.

Indiana corn stocks totaled 120 million bushels, 5 percent below a year earlier.

Old crop soybeans stored in all positions on September 1, 2019 totaled 913 million bushels, up 108 percent from September 1, 2018. Soybean stocks stored on farms totaled 265 million bushels, up 162 percent from a year ago.  Off-farm stocks, at 648 million bushels, are up 92 percent from last September. Indicated disappearance for June – August 2019 totaled 870 million bushels, up 11 percent from the same period a year earlier.

Indiana soybean stocks on September 1, 2019, were 45.5 million bushels. That was 107 percent higher than stocks a year earlier and a September 1 record high.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2018 soybean production is revised down 116 million bushels from the previous estimate. Planted area is revised to 89.2 million acres, and harvested area is revised to 87.6 million acres. The 2018 yield, at 50.6 bushels per acre, is down 1.0 bushel from the previous estimate. A table with 2018 acreage, yield, and production estimates by States is included on page 17 of this report.

All wheat stored in all positions on September 1, 2019 totaled 2.38 billion bushels, down slightly from a year ago. On-farm stocks are estimated at 776 million bushels, up 23 percent from last September. Off-farm stocks, at 1.61 billion bushels, are down 8 percent from a year ago. The June – August 2019 indicated disappearance is 657 million bushels, up 11 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2019 totaled 92.9 million bushels, up 3 percent from a year ago. On-farm stocks, at 54.1 million bushels, are up 4 percent from September 1, 2018. Off-farm stocks totaled 38.8 million bushels, up 2 percent from a year ago. The June – August 2019 indicated disappearance of 19.8 million bushels is down 14 percent from the same period a year earlier.

Barley stocks in all positions on September 1, 2019 totaled 192 million bushels, up 10 percent from September 1, 2018. On-farm stocks are estimated at 118 million bushels, 30 percent above a year ago. Off-farm stocks, at 73.1 million bushels, are 12 percent below September 2018. The June – August 2019 indicated disappearance is 66.3 million bushels, 9 percent below the same period a year earlier.

Oats stored in all positions on September 1, 2019 totaled 61.2 million bushels, 18 percent below the stocks on September 1, 2018. Of the total stocks on hand, 39.0 million bushels are stored on farms, 1 percent lower than a year ago. Off-farm stocks totaled 22.2 million bushels, 38 percent below the previous year. Indicated disappearance during June – August 2019 totaled 30.8 million bushels, compared with 22.4 million bushels during the same period a year ago.

Old crop grain sorghum stored in all positions on September 1, 2019 totaled 63.7 million bushels, up 83 percent from a year ago. On-farm stocks, at 3.21 million bushels, are down 4 percent from last year. Off-farm stocks, at 60.5 million bushels, are up 92 percent from September 1, 2018. The June – August 2019 indicated disappearance from all positions is 53.8 million bushels, up 76 percent from the same period a year ago.

Old crop sunflower stocks in all positions on September 1, 2019 totaled 286 million pounds, down 26 percent from a year ago. All stocks stored on farms totaled 65.7 million pounds and off-farm stocks totaled 220 million pounds. Stocks of oil type sunflower seed are 216 million pounds; of this total, 60.8 million pounds are on-farm stocks and 155 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 70.4 million pounds, with 4.92 million pounds stored on the farm and 65.4 million pounds stored off the farm.

Source: USDA NASS