USDA Projects Reduced Stocks For All Major Crops

WASHINGTON, DC – USDA end of year stocks estimate for all major crops is fairly easy to report: all are lower than in 2019. Specifically, corn stocks are slightly lower while wheat stocks are down 9 percent, soybeans are off 10 percent and sorghum stocks are down 12 percent as of December 1, 2020.

Corn stored in all positions totaled 11.3 billion bushels, down slightly from 2019. Of the total stocks, 7.05 billion bushels are stored on farms, down 1 percent from a year earlier. Off-farm stocks, at 4.28 billion bushels, are up 1 percent from a year ago.

Soybeans stored in all positions totaled 2.93 billion bushels, down 10 percent from a year earlier. Soybean stocks stored on farms totaled 1.31 billion bushels, down 14 percent from a year ago. Off-farm stocks, at 1.62 billion bushels, are down 6 percent from last December.

All wheat stored in all positions totaled 1.67 billion bushels, down 9 percent from a year ago. On-farm stocks are estimated at 483 million bushels, down 7 percent from last December. Off-farm stocks, at 1.19 billion bushels, are down 10 percent from a year ago.

Grain sorghum stored in all positions totaled 219 million bushels, down 12 percent from a year ago. On-farm stocks, at 21.3 million bushels, are down 29 percent from December 1 last year. Off-farm stocks, at 198 million bushels, are down 10 percent from a year earlier.
(SOURCE: All Ag News)