The U.S. Department of Agriculture's National Agricultural Statistics Service released its latest grain and rice stocks reports on March 31, revealing mixed trends across various commodities. The reports highlight significant changes in storage and production patterns for major crops, reflecting the dynamic nature of the agricultural sector.
Wheat stocks showed the most substantial increase, with all wheat stored in all positions totaling 1.24 billion bushels, up 14% from the previous year. On-farm stocks rose 13% to 307 million bushels, while off-farm stocks increased 14% to 930 million bushels. The December 2024 - February 2025 indicated disappearance was 336 million bushels, slightly above last year's figures.
Corn stocks, however, experienced a decline. Total corn stocks in all positions on March 1, 2025, reached 8.15 billion bushels, down 2% from March 1, 2024. On-farm storage saw an 11% decrease to 4.50 billion bushels, while off-farm stocks increased by 12% to 3.65 billion bushels. The indicated disappearance for December 2024 - February 2025 was 3.92 billion bushels, showing an increase from the previous year.
Soybean stocks presented a mixed picture. Total stocks in all positions rose 4% to 1.91 billion bushels. Despite a 6% decrease in on-farm storage to 877 million bushels, off-farm stocks surged 13% to 1.03 billion bushels compared to last March. The indicated disappearance for the quarter ending February 2025 totaled 1.19 billion bushels, up 3% from the previous year.
Rice stocks painted a different picture, with rough rice stocks down 4% from the previous year, totaling 101 million hundredweight (cwt). Long grain varieties dominated, accounting for 67% of the total rough rice. Milled rice stocks in all positions totaled 6.26 million cwt, down 5% from a year ago.
These fluctuations in grain and rice stocks underscore the importance of monitoring agricultural trends and their potential impact on markets and food supply chains. Industry stakeholders will likely be watching closely to see how these stock levels influence pricing and production decisions in the coming months.
