Quarterly stocks downward trend continues

WASHINGTON — The year-over-year decline in grain stocks continued through the third quarter of the 2020-2021 marketing year.

The U.S. Department of Agriculture’s quarterly grain stocks report found U.S. corn stocks in all positions on June 1 totaled 4.11 billion bushels, down 18% from June 1, 2020.

Of the total stocks, 1.74 billion bushels are stored on-farms, 39% lower than a year earlier. Off-farm stocks, at 2.37 billion bushels, are up 11% from 12 months ago.

The March-May 2021 indicated disappearance is 3.58 billion bushels, compared with 2.95 billion bushels during the same time last year.

Soybean Stocks

USDA estimated soybeans stored in all positions on June 1 were 767 million bushels, down 44% from 12 months ago.

On-farm stocks totaled 220 million bushels, 65% lower than from a year ago. Off-farm stocks of 547 million bushels are down 27% from the same quarter in 2020.

Indicated disappearance for the March-May 2021 quarter totaled 795 million bushels, 9% lower than the same period a year earlier.

All Wheat Stocks

Old crop all wheat stored in all positions on June 1 totaled 844 million bushels, down 18% from a year ago.

On-farm stocks are estimated at 142 million bushels, down 38% from last year. Off-farm stocks, at 702 million bushels, 12% lower than a year ago.

The March-May 2021 indicated disappearance is 467 million bushels, up 21% from the previous year.