Less corn, more soybeans, wheat stocks says USDA report

Glacier FarmMedia—As the trade expected, stocks of United States corn fell back compared to a year ago while those for soybeans and wheat came in higher. The U.S. Department of Agriculture issued its grains stocks as of March 1 report on Monday.

More corn

The USDA placed total corn stocks at 8.15 billion bushels, down from 8.35 billion the same time last year. That matched the average trade guess derived from a range of 8.06 billion to 8.31 billion. Of the current stocks, 4.50 billion is on-farm and 11 per cent lower than a year ago. Commercial stocks (grain and oilseeds at mills elevators, warehouses, terminals and processors) climbed 12 per cent at 3.65 billion.

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More corn to be planted, USDA forecasts

As expected, there’s to be an increase in corn plantings this spring, the United States Department of Agriculture estimated in its prospective planting report released on March 31. As well, the USDA reduced soybean and all wheat plantings.

Less soybeans

U.S. soybean stocks tallied 1.91 billion bushels, rising from 1.85 billion a year ago. That was a near match with the average trade estimate from a range of 1.82 billion to 2.02 billion. On-farm soybeans were pegged at 877 million bushels, down six per cent from March 1, 2024. Commercial stocks were 1.03 billion, up 13 per cent from March to March.

And less wheat

The USDA placed all wheat stocks at 1.24 billion bushels versus 1.09 billion a year ago. The average trade guess was 1.22 billion bushels from 1.17 billion to 1.26 billion. On-farm stocks came in at 307 million bushels, up 13 per cent and commercial stocks of 930 million increased 14 per cent.

Durum stocks of 38.72 million bushels rose from the 36.38 million in the previous March. On-farm stocks tallied 21.60 million bushels plus commercial stocks of 17.12 million.

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