The USDA’s National Agricultural Statistics Service released its Grain Stocks report that showed lower numbers for corn and soybeans. Old crop corn stocks on hand as of September 1, 2023, totaled 1.36 billion bushels, one percent lower than the same time last year. Old crop soybeans stored in all positions were down two percent from September 1, 2022, and all wheat stocks were up slightly from a year earlier. Of the total corn stocks, 605 million bushels were stored on farms, 19 percent higher than last year.
Old crop soybeans stored in all positions on September 1, 2023, totaled 268 million bushels, two percent lower than last year. Soybean stocks stored on farms totaled 72 million bushels, up 14 percent from a year ago.
All wheat stored in all positions on September 1 totaled 1.78 billion bushels, up slightly from September 1, 2022. On-farm stocks were one percent higher than in 2022.
In South Dakota, corn stocks in all positions on September 1, 2023 totaled 81.4 million bushels, up 14% from 2022, according to the USDA’s National Agricultural Statistics Service. Of the total, 39.0 million bushels are stored on farms, up 22% from a year ago. Off-farm stocks, at 42.4 million bushels, are up 8% from last year.
Soybeans stored in all positions totaled 15.9 million bushels, down 14% from last year. On-farm stocks are 3.90 million bushels, down 17% from a year ago. Off-farm stocks, at 12.0 million bushels, are down 13% from 2022.
All wheat stored in all positions totaled 60.0 million bushels, down 18% from a year ago. Onfarm stocks of 30.0 million bushels are down 15% from 2022 and off-farm stocks of 30.0 million bushels are down 21% from last year.
Oats stored in all positions totaled 6.81 million bushels, down 10% from last year. On-farm stocks of 4.90 million bushels are down 18% from 2022. Off-farm stocks of 1.91 million bushels are up 23% from last year.
Barley on-farm stocks totaled 350,000 bushels, up 30% from last year.
Sorghum stored off-farm totaled 962,000 bushels, up 122% from last year.
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