Corn, soybean year-over-year ending stocks lower

WASHINGTON — Old crop corn and soybean ending stocks finished lower than the previous year, according to the U.S. Department of Agriculture’s grain stocks report.

The quarterly grain stocks report reflecting supplies at the end of the 2024-2025 marketing year had old crop corn stocks on Sept. 1 totaling 1.53 billion bushels, 13% lower than a year ago.

Of the total corn stocks, 643 million bushels were stored on-farms, down 18% from last year. Off-farm stocks, at 888 million bushels, were down 10% from a year ago.

The June-August 2025 indicated disappearance for corn was 3.11 billion bushels, compared with 3.23 billion bushels during the same period a year earlier.

Soybeans

Old crop soybeans stored in all positions on Sept. 1 totaled 316 million bushels, down 8% from Sept. 1, 2024.

Soybean stocks stored on-farms totaled 91.5 million bushels, 18% lower than a year ago. Off-farm stocks, at 225 million bushels, were down 3% from September 2024.

The indicated disappearance for June-August 2025 totaled 691 million bushels, up 10% from the same period a year earlier.

Wheat

All wheat stored in all positions on Sept. 1 totaled 2.12 billion bushels, a 6% increase from a year ago.

On-farm stocks were estimated at 692 million bushels, up 4% from last September 2024. Off-farm stocks, at 1.43 billion bushels, were up 7% from a year ago.

The June-August 2025 indicated disappearance was 715 million bushels of soybeans, 5% higher than the same period last year.

Production Revisions

USDA’s quarterly grain stocks report opened with a special note.

“The marketing year for corn and soybeans is finished and a thorough review of the balance sheet was completed. This process, which is normal for this time of the year, led to revisions in acreage, yield and production for the 2024 crop,” the USDA said.

Nationally, grain corn production for 2024 is revised up 25 million bushels and soybean production is revised up 7.74 million bushels from the previous estimate.

There were no changes in the 2024 corn and soybean yield and production numbers for Illinois, Indiana and Iowa.

Survey Procedures

The grain stocks estimates in this report are based on surveys conducted during the first two weeks of September. 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 55,700 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 Sept. 1. 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 7,900 facilities with 11.8 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.

Corn Stocks by Position

Sept. 1, 2024 and 2025

(1,000 bushels)

Illinois

On-farm 2024: 76,000

Off-farm 2024: 156,004

On-farm 2025: 56,000

Off-farm 2025: 101,210

Indiana

On-farm 2024: 41,000

Off-farm 2024: 75,326

On-farm 2025: 35,000

Off-farm 2025: 48,492

Iowa

On-farm 2024: 140,000

Off-farm 2024: 166,178

On-farm 2025: 130,000

Off-farm 2025: 206,415

Soybean Stocks by Position

Sept. 1, 2024 and 2025

(1,000 bushels)

Illinois

On-farm 2024: 11,500

Off-farm 2024: 34,511

On-farm 2025: 8,200

Off-farm 2025: 32,666

Indiana

On-farm 2024: 3,600

Off-farm 2024: 23,157

On-farm 2025: 3,900

Off-farm 2025: 19,822

Iowa

On-farm 2024: 26,000

Off-farm 2024: 47,337

On-farm 2025: 12,500

Off-farm 2025: 44,630