The USDA quarterly Grain Stocks Report released on September 29^th 2023, documented storage of the major commodities, classified according to on-site and remote facilities including elevators and commercial installations. Quantities of corn and soybeans, the two major commodities relevant to the cost of poultry production were:-

“Corn stocks in all positions on September 1^st 2023 totaled 1.36 billion bushels, down one percent from September 1^st 2022. Of the total stocks, 605 million bushels are stored on farms, up 19 percent from a year earlier. Off-farm stocks, at 756 million bushels, are down 13 percent from a year ago. The June to August 2023 indicated disappearance is 2.75 billion bushels, compared with 2.97 billion bushels during the same period last year”.

“Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports, and farm program administrative data, the 2022 corn for grain production is revised down 15.0 million bushels from the previous estimate. Corn silage production is revised down 291 thousand tons. Planted area is revised to 88.6 million acres, and area harvested for grain is revised to 79.1 million acres. Area harvested for silage is revised to 6.84 million acres. The 2022 grain yield, at 173.4 bushels per acre, is up 0.1 bushel from the previous estimate. The 2022 silage yield, at 18.7 tons per acre, remains unchanged from the previous estimate”.

“Soybeans stored in all positions on September 1^st 2023 totaled 268 million bushels, down two percent from September 1^st 2022. Soybean stocks stored on farms totaled 72.0 million bushels, up 14 percent from a year ago. Off-farm stocks, at 196 million bushels, are down 7 percent from last September. Indicated disappearance for June - August 2023 totaled 528 million bushels, down 24 percent from the same period a year earlier”.

“Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2022 soybean production is revised down 5.93 million bushels from the previous estimate. Planted area is unchanged at 87.5 million acres, but harvested area is revised to 86.2 million acres. The 2022 yield, at 49.6 bushels per acre, is revised up 0.1 bushel from the previous estimate”.

Prices and commentary are incorporated in the Weekly Energy, Economy and Commodity Report posted each week and a summary of the WASDE #640 released on September 12^th is retrievable under the STATISTICS tab.