March 1 corn stocks down, soybeans up

by Ron Sterk
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WASHINGTON – Stocks of corn in all positions on March 1 totaled 6,009,260,000 bushels, down 8 percent from 6,523,228,000 bushels in 2011, the US Department of Agriculture said in its latest Grain Stocks report.

On-farm corn stocks were 3,192,000,000 bushels, down 6 percent from last year, and off-farm stocks were 2,817,260,000 bushels, down 10 percent from a year ago. Indicated disappearance of corn during the December-February period was 3.64 billion bushels, up 3 percent from the same period last year, the USDA said.

Soybean stocks in all positions were 1,375,258,000 bushels, up 10 percent from 1,248,800,000 bushels on March 1, 2011, the USDA said. On-farm stocks were 555,000,000 bushels, up 10 percent from last year, and off-farm stocks totaled 817,258,000 bushels, also up 10 percent. Indicated disappearance during December-February was 998 million bushels, down 3 percent from the same period a year earlier, the USDA said.

The USDA stocks numbers were below trade expectations, which averaged 6,151 million bushels for corn and 1,381 million bushels for soybeans.

March 1, 2012, grain sorghum stocks in all positions totaled 107,935,000 bushels, down 37 percent from a year ago, oats stocks totaled 72,538,000 bushels, down 16 percent, and barley stocks totaled 93,687,000 bushels, down 32 percent.

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