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U.S. GRAIN STOCKS ON SEPTEMBER 1
Corn Stocks Up Sharply
Soybean Stocks Down 28 Percent
Old-crop corn stored in all positions on September 1, 1997, is estimated at 884 million bushels, up 108 percent from September 1, 1996, but still 43 percent below the September 1, 1995 level. On-farm stocks, at 475 million bushels, are up 142 percent from September 1, 1996. Off-farm stocks, at 409 million, are up 78 percent from last year. The indicated disappearance from all positions for the June-August quarter is 1.61 billion bushels, 25 percent above the disappearance for the same quarter a year earlier.
Old-crop sorghum in all positions September 1, 1997, totaled 47.0 million bushels, up 156 percent from a year ago. Off-farm stocks , at 31.6 million bushels, are up 145 percent from last year and account for 67 percent of total stocks. On-farm stocks, at 15.5 million bushels, are up 182 percent from last year. The June-August 1997 disappearance from all positions is 70.3 million bushels, up 35 percent from last year.
Old-crop soybeans stored in all positions on September 1, 1997 totaled 132 million bushels, down 28 percent from September 1, 1996. This is the lowest ending stocks since the 1976 crop year. On-farm stocks, estimated at 44 million bushels, were down 27 percent from the same period last year. Off-farm stocks totaled 88 million bushels, down 29 percent from 1996.
Indicated disappearance during the September 1996-August 1997 marketing year totaled 2.43 billion bushels compared to 2.33 billion bushels during the same period one year ago.
The 1996 soybean production remains unchanged at 2.38 billion bushels. Planted and harvested acres are also unchanged from the previous 1996 estimate. The 1996 yield per acre remains at 37.6 bushels.
Barley stocks in all positions on September 1, 1997 are estimated at 326 million bushels, 3 percent above the stocks of September 1, 1996. Of the total barley stocks on hand, 196 million bushels are stored on farms, 1 percent above a year ago. September 1, 1997 off-farm stocks are 7 percent above last year at 131 million bushels. Indicated disappearance during the June-August quarter totaled 158 million bushels, 12 percent below the same period a year earlier.
All wheat stocks in all storage positions September 1, 1997 is estimated at 2.07 billion bushels, up 20 percent from September 1, 1996. Farm stocks total 794 million bushels, and off- farm stocks are 1.28 billion bushels. The on-farm total is down 4 percent from a year ago, but the off-farm level is up 42 percent. All wheat disappearance for the first quarter of the 1997-98 marketing year totals 897 million bushels, down 4 percent from the same period a year ago.
Durum wheat stored in all positions on September 1, 1997 totaled 87.8 million bushels, down 14 percent from last September. On farm stocks, at 51.0 million bushels, are down 36 percent from last year. Disappearance from all positions is 29.1 million bushels, down 26 percent from June-August 1996.
Oats stored in all positions on September 1, 1997 totaled 155 million bushels, 16 percent above the stocks on September 1, 1996. Of the total stocks on hand, 106 million bushels were stored on farm, 13 percent above this time last year. Off-farm stocks totaled 49 million bushels, 24 percent above a year earlier. Indicated disappearance during the June-August quarter totaled 88 million bushels, fractionally below the same period a year ago.
The U.S. Department of Agriculture report of U.S. grain and soybean stocks on September 1, with year-ago below (1000 - bushels):
On Farm Off-Farm-X Total Corn 475,000 408,997 883,997 196,600 229,342 425,942 Sorghum 15,487 31,552 47,039 5,500 12,871 18,371 Oats 105,500 49,051 154,551 93,400 39,532 132,932 Barley 195,500 130,975 326,475 193,700 122,078 315,778 All Wheat 794,350 289,047 443,607 824,500 899,696 1,724,196 Durum-Y 51,000 36,812 87,812 79,700 22,687 102,387 Soybeans 43,600 88,064 131,664 59,523 123,935 183,458
X–Mills, elevators, warehouses, terminals and processors.
Y–Durum included in all wheat.
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