There’s more corn in the bins than there was a year ago at this time. USDA’s newest Grain Stocks report shows 1.24 billion bushels of old crop corn in all positions as of September 1, up 50 percent from the same time last year.
The report from the National Agricultural Statistics Service (NASS) found less soybean stocks than a year ago. As of September 1, there were 92.0 million bushels of old crop soybeans in storage, down 35 percent from this time in 2013.
NASS also released the Small Grains 2014 Summary, including final tallies for U.S. wheat and oats.
NASS reported growers harvested 46.5 million acres of wheat this year, up 3 percent from 2013. The levels of production and changes from 2013 by type are winter wheat, 1.38 billion bushels, down 11 percent; other spring wheat, 601 million bushels, up 12 percent; and Durum wheat, 57.1 million bushels, down 2 percent.
Oat production is estimated at 70.5 million bushels, up 9 percent from 2013, but the fourth lowest production on record. Harvested area, at 1.04 million acres, is 3 percent above last year but is the third lowest acreage harvested for grain on record.
Due to delays in this year’s harvest, NASS will re-survey small grain growers in Colorado, Idaho, Minnesota, Montana, North Dakota, South Dakota, Utah and Wyoming. Operators that reported unharvested acres will be asked to verify and update, if necessary, their acreage, yield and production for barley, oats, Durum wheat and other spring wheat.
Randy Martinson of Progressive Ag offered commentary on the reports today during the Minneapolis Grain Exchange crop call: MGEX call on USDA stocks and small grains reports