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USDA Grain Stocks Report

09/30/2024

The USDA quarterly Grain Stocks Report released on September 30th 2024, documented storage of corn and soybeans, classified according to on-site and remote facilities including elevators and commercial installations. Quantities of the two major ingredients as Prices and commentary are incorporated in the Weekly Energy, Economy and determined by USD-NASS, relevant to the cost of poultry production were:-

 

“Old crop corn stocks on hand as of September 1st 2024 totaled 1.76 billion bushels, up 29 percent from September 1st 2023. Of the total corn stocks, 780 million bushels (44 percent were stored on farms), up 29 percent from last year”. This was down from 61 percent three months ago indicating a sell-off despite declining prices to realize income and make room for the 2024 harvest. “Off-farm stocks, at 980 million bushels, were up 30 percent from a year ago. The June-August 2024 indicated disappearance was 3.24 billion bushels, compared with 2.74 billion bushels during the same period a year earlier”.

 

“Old crop soybeans stored in all positions on September 1st 2024 totaled 342 million bushels, up 29 percent from September 1st 2023. Soybean stocks stored on farms totaled 111 million bushels,  (32 percent) up 54 percent from a year ago. Off-farm stocks, at 231 million bushels, were up 20 percent from last September. Indicated disappearance for June-August 2024 totaled 628 million bushels, up 18 percent from the same period a year earlier”.

 

The weekly Economy, Commodity and Energy Report posted each week and a summary of the WASDE #652 released on September 12th is retrievable under the STATISTICS tab.