Grain Stocks: All Down from Year Ago Levels

Old crop corn stocks in all positions on September 1, 2020 totaled 2.00 billion bushels, down 10 percent from September 1, 2019. Of the total stocks, 751 million bushels are stored on farms, down 8 percent from a year earlier.

Off-farm stocks, at 1.24 billion bushels, are down 12 percent from a year ago. The June – August 2020 indicated disappearance is 3.02 billion bushels, compared with 2.98 billion bushels during the same period last year.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports, and farm program administrative data, the 2019 corn for grain production is revised up 2.67 million bushels from the previous estimate. Corn silage production is revised up 715 thousand tons.

Planted area is revised to 89.7 million acres, and area harvested for grain is revised to 81.3 million acres. Area harvested for silage is revised to 6.62 million acres. The 2019 grain yield, at 167.5 bushels per acre, is up 0.1 bushel from the previous estimate. The 2019 silage yield, at 20.2 tons per acre, remains unchanged from the previous estimate.

Old crop soybeans stored in all positions on September 1, 2020 totaled 523 million bushels, down 42 percent from September 1, 2019. Soybean stocks stored on farms totaled 141 million bushels, down 47 percent from a year ago.

Off-farm stocks, at 382 million bushels, are down 41 percent from last September. Indicated disappearance for June – August 2020 totaled 858 million bushels, down 2 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 2019 soybean production is revised down 333 thousand bushels from the previous estimate.

Planted area is unchanged at 76.1 million acres, but harvested area is revised to 74.9 million acres. The 2019 yield, at 47.4 bushels per acre, is unchanged from the previous estimate.

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All wheat stored in all positions on September 1, 2020 totaled 2.16 billion bushels, down 8 percent from a year ago. On-farm stocks are estimated at 705 million bushels, down 4 percent from last September. Off-farm stocks, at 1.45 billion bushels, are down 10 percent from a year ago. The June – August 2020 indicated disappearance is 695 million bushels, up 4 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2020 totaled 70.6 million bushels, down 20 percent from a year ago. On-farm stocks, at 43.5 million bushels, are down 12 percent from September 1, 2019. Off-farm stocks totaled 27.1 million bushels, down 30 percent from a year ago. The June – August 2020 indicated disappearance of 40.1 million bushels is up 95 percent from the same period a year earlier.

Barley stocks in all positions on September 1, 2020 totaled 180 million bushels, down 5 percent from September 1, 2019. On-farm stocks are estimated at 109 million bushels, 7 percent below a year ago. Off-farm stocks, at 71.0 million bushels, are 3 percent below September 2019. The June – August 2020 indicated disappearance is 65.6 million bushels, 5 percent below the same period a year earlier.

Oats stored in all positions on September 1, 2020 totaled 66.9 million bushels, 11 percent above the stocks on September 1, 2019. Of the total stocks on hand, 39.9 million bushels are stored on farms, 5 percent higher than a year ago.

Off-farm stocks totaled 27.0 million bushels, 22 percent above the previous year. Indicated disappearance during June – August 2020 totaled 35.3 million bushels, compared with 31.0 million bushels during the same period a year ago.

Old crop grain sorghum stored in all positions on September 1, 2020 totaled 29.5 million bushels, down 54 percent from a year ago. On-farm stocks, at 2.36 million bushels, are down 27 percent from last year. Off-farm stocks, at 27.1 million bushels, are down 55 percent from September 1, 2019. The June – August 2020 indicated disappearance from all positions is 43.1 million bushels, down 20 percent from the same period a year ago.

Old crop sunflower stocks in all positions on September 1, 2020 totaled 213 million pounds, down 26 percent from a year ago. All stocks stored on farms totaled 22.5 million pounds and off-farm stocks totaled 190 million pounds.

Stocks of oil type sunflower seed are 158 million pounds; of this total, 13.9 million pounds are on-farm stocks and 144 million pounds are off-farm stocks. Non-oil sunflower stocks totaled 54.4 million pounds, with 8.62 million pounds stored on the farm and 45.8 million pounds stored off the farm.

Full report.