The USDA quarterly Grain Stocks Report released on March 28th 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 determined by USD-NASS, relevant to the cost of poultry production were:-
“Corn stocks in all positions on March 1, 2024 totaled 8.35 billion bushels equivalent to 54.4 percent of the 2023 crop, up 13 percent from March 1, 2023. Of the total stocks, 5.08 billion bushels (60.8 percent of total) were stored on farms, up 24 percent from a year earlier. Off-farm stocks, at 3.27 billion bushels, are down 1 percent from a year ago. The indicated December 2023 to February 2024 disappearance is 3.82 billion bushels, compared with 3.42 billion bushels during the same period last year”.
“Soybeans stored in all positions on March 1, 2024 totaled 1.85 billion bushels equivalent to 44.5 percent of the 2023 crop, up 9 percent from March 1, 2023. Soybean stocks stored on farms are estimated at 933 million bushels, (50.4 percent of total) up 24 percent from a year ago. Off-farm stocks, at 912 million bushels, are down 3 percent from last March. Indicated disappearance for the December 2023 - February 2024 quarter totaled 1.16 billion bushels, down 13 percent from the
same period a year earlier”.
Prices and commentary are incorporated in the Weekly Energy, Economy and Commodity Report posted each week and a summary of the WASDE #646 released on March 8th is retrievable under the STATISTICS tab.
