WASHINGTON — The implications of the trade dispute with China continue to be reflected in U.S. stored soybean as stocks were up 47% on June 1 compared to a year ago.
The U.S. Department of Agriculture released its quarterly grain stocks report June 28.
Soybeans stored in all positions on June 1 totaled 1.79 billion bushels. On-farm stocks totaled 730 million bushels, up 94% from a year ago. Off-farm stocks, at 1.06 billion bushels, are 26% higher than a year ago.
The indicated disappearance of soybeans for the March-May 2019 quarter totaled 937 million bushels, up 5% from the same period a year earlier.
Corn stocks in all positions on June 1 totaled 5.20 billion bushels, down 2% from June 1, 2018. Of the total stocks, 2.95 billion bushels are stored on farms, up 7% from a year earlier. Off-farm stocks, at 2.25 billion bushels, are down 12% from a year ago.
The March-May 2019 indicated disappearance is 3.41 billion bushels of corn, compared with 3.59 billion bushels during the same period last year.
Old crop all wheat stored in all positions on June 1 totaled 1.07 billion bushels, 2% less than a year ago.
On-farm stocks are estimated at 207 million bushels, up 58% from last year. Off-farm stocks, at 865 million bushels, are down 11% from a year ago.
The March-May 2019 indicated all wheat disappearance is 521 million bushels, 31% above the same period a year earlier.
The grain stocks estimates in this report are based on surveys conducted during the first two weeks of June. Separate surveys are conducted to obtain the on-farm and off-farm estimates.
The on-farm stocks survey is a probability survey that includes a sample of approximately 68,100 farm operators selected from a list of producers that ensures all operations in the United States have a chance to be selected.
These producers are asked to provide the total quantities of grain stored on their operations as of June 1, 2019. This includes all whole grains and oilseeds stored whether for feed, seed, or sale, as well as any stored under a government program.
The off-farm stocks survey is an enumeration of all known commercial grain storage facilities. This includes approximately 8,500 facilities with 11.5 billion bushels of storage capacity.
An effort is made to obtain a report from all facilities.
Reports of stock holdings are normally received from operations covering about 90% of the capacity. Estimates are made for missing facilities to make the survey complete.