The National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA) has released its Grain Stocks report, offering a comprehensive overview of the current state of grain reserves in the country. The report, dated December 1, 2023, highlights notable changes in stocks of key crops, showcasing the dynamic nature of the agricultural landscape.
Corn stocks surge, soybeans dip and wheat sees uptick
Corn stocks witnessed a significant surge, with a remarkable 13 percent increase from December 2022. The total corn stored in all positions reached 12.2 billion bushels, indicating a substantial uptick. On-farm stocks recorded a 16 percent increase from the previous year, while off-farm stocks grew by 7 percent. The indicated disappearance for September - November 2023 stood at 4.53 billion bushels, showcasing heightened demand compared to the same period in 2022.
In contrast, soybean stocks experienced a modest decline of 1 percent from December 2022. The total soybeans stored in all positions reached 3.00 billion bushels, with on-farm stocks down by 2 percent. Off-farm stocks showed a slight increase from the previous December. The indicated disappearance for September - November 2023 totaled 1.43 billion bushels, reflecting a 6 percent decrease compared to the same period in the previous year.
All wheat stocks demonstrated an 8 percent increase from the previous year, totaling 1.41 billion bushels. On-farm stocks rose by 9 percent, while off-farm stocks increased by 7 percent. However, the indicated disappearance for September - November 2023 witnessed a notable 23 percent decrease from the same period in 2022.
Specialized crops show varied trends
Durum wheat experienced a 14 percent decrease in stocks, totaling 41.3 million bushels. On-farm stocks witnessed a 20 percent decline, while off-farm stocks were down by 7 percent. The indicated disappearance for September - November 2023 marked a significant 181 percent increase from the same period a year earlier.
Barley stocks increased by 3 percent, reaching 142 million bushels. On-farm stocks slightly decreased by 1 percent, while off-farm stocks grew by 9 percent. The indicated disappearance for September - November 2023 recorded a substantial 39 percent increase from the previous year.
Oats stocks surged by 17 percent, totaling 62.6 million bushels. While on-farm stocks decreased slightly, off-farm stocks experienced a notable 31 percent increase. The indicated disappearance during September - November 2023 reached 12.7 million bushels.
Grain sorghum stocks demonstrated an 18 percent increase from the previous year, totaling 188 million bushels. On-farm stocks soared by 85 percent, while off-farm stocks increased by 9 percent. The indicated disappearance from all positions during September - November 2023 marked a remarkable 105 percent increase from the same period in 2022.
Pulse crops, including dry edible peas, lentils, and chickpeas, exhibited varying quantities in storage, reflecting the diverse nature of these crops in the agricultural landscape.
The USDA Grain Stocks report provides valuable insights into the ebb and flow of grain reserves, essential for stakeholders in the agricultural industry to make informed decisions in a dynamic and ever-changing environment.
