Corn stocks up 6%, soybean stocks up 26% in USDA grain report

WASHINGTON — Corn stocks are up 6%, soybean stocks are up 26% and all wheat stocks are down 22% from last June, according to the U.S. Department of Agriculture’s latest grain stocks report.

“As of June 1, corn has 4.35 billion bushels stored — that’s up by 5.7% from a year ago,” said Lance Honig, crops branch chief at USDA’s National Agricultural Statistics Service.

“The on-farm stocks are up 21.6% from the previous year, but the off-farm stocks are down 6%.”

As of June 1, soybean stocks totaled 971 million bushels, up 26% from June 1, 2021. On-farm stocks totaled 331 million bushels, up 51% from a year ago. Off-farm stocks, at 640 million bushels, are up 17% from a year ago.

As of June 1, wheat stocks totaled 660 million bushels, down 22% from a year ago. On-farm stocks are estimated at 93.0 million bushels, down 34% from last year. Off-farm stocks, at 567 million bushels, are down 19% from a year ago.