WASHINGTON, D.C. — U.S. grain stocks hit double-digit gains, with corn up 10 percent from March 2016, soybeans up 13 percent and all wheat stocks up 21 percent, according to the March 1 USDA Quarterly Grain Stocks report, released March 31.

 

“Corn stocks in all positions on March 1, 2017, totaled 8.62 billion bushels,” the report stated. “Of the total stocks, 4.91 billion bushels were stored on farms.” Off-farm stocks, at 3.71 billion bushels, are up 6 percent from a year ago. The December 2016-February 2017 indicated disappearance is 3.77 billion bushels, compared with 3.41 billion during the same period last year. The report said soybeans stored in all positions on March 1 totaled 1.73 billion bushels, up 13 percent from March 1, 2016. Soybean stocks stored on farms are estimated at 669 million bushels, down 8 percent from last year. In addition, off-farm soybean stocks, at 1.07 billion bushels, are up 33 percent from last March. Indicated disappearance for the December 2016-February 2017 quarter totaled 1.16 billion bushels, down 2 percent from the same period a year earlier.

 

Moreover, all wheat stored in all positions on March 1 totaled 1.66 billion bushels, up 21 percent from last year. On-farm stocks are estimated at 350 million bushels, up 9 percent from last March. Off-farm wheat stocks, at 1.31 billion bushels, are up 24 percent from a year ago. The December 2016-February 2017 indicated disappearance is 422 million bushels, 13 percent above the same period a year earlier.

 

In Illinois, corn stocks in all positions on March 1 totaled 1.4 billion bushels, up 9 percent from March 2016, with on-farm stocks at 640 million bushels while off-farm stocks at 755 million. The report also said Illinois soybean stocks in all positions on March 1 totaled 277 million bushels, up 16 percent from a year ago, with on-farm stocks totalling 94 million bushels and off-farm stocks of 183 million.

 

In Indiana, corn stocks totaled 534.6 million bushels, 10 percent higher than last year. About 44 percent of the corn was stored on farms. Soybean stocks on March 1 were 139.7 million bushels, 15 percent higher than stocks last year. In Iowa, corn stocks on March 1 totaled 1.71 billion bushels, up 12 percent from March 2016, the largest amount of corn in storage on March 1 since 1988. Of the total stocks, 58 percent were stored onfarm.

 

The report added Iowa soybeans stored in all positions on March 1 totaled 310 million bushels, down 6 percent from the 328 million bushels on hand March 1, 2016. Of the total stocks, 37 percent were stored on-farm.

 

In Kentucky, corn stocks in 2017 totaled 72,070 bushels, up from 28,404 last year. On-farm stocks totaled 42,000 bushels, compared to 58,000 last year. Off-farm stocks totaled 30,000 bushels, compared to 28,404 in 2016. (Kentucky didn’t report total soybean stocks, but had 9,815 off-farm bushels, compared to 5,531 last year. Tennessee didn’t report grain stocks totals.)

 

In Michigan, corn stocks totaled 165.4 million bushels, 5 percent lower than last year. About 57 percent of the corn was stored on farms. Soybean stocks on March 1 were 43.3 million bushels, 19 percent higher than in March 2016. In Ohio, corn stocks totaled 338.9 million bushels, 9 percent above last year. About 60 percent of the corn was stored on farms. Soybean stocks on March 1 were 126.7 million bushels, 30 percent higher than stocks last year.