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September Quarterly Grain Stocks & Small Grains Annual Summary

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Wheat prices slid after the USDA says farmers will harvest a larger wheat crop than expected. Traders had expected 1.73 Billion bushels compared to the reported 1.74 Billion bushels.

Old crop corn stocks in all positions on September 1, 2017 totaled 2.29 billion bushels, up 32% from September 1, 2016. Of the total stocks, 787 million bushels are stored on farms, up 25% from a year earlier. Off-farm stocks, at 1.51 billion bushels, are up 36% from a year ago.

Old crop soybeans stored in all positions on September 1, 2017 totaled 301 million bushels, up 53% from September 1, 2016. Soybean stocks stored on farms totaled 87.9 million bushels, up 112% from a year ago.Off-farm stocks, at 213 million bushels, are up 38 percent from last September. Indicated disappearance for June - August 2017 totaled 665 million bushels, down 2% from the same period a year earlier.

All wheat stored in all positions on September 1, 2017 totaled 2.25 billion bushels, down 11% from a year ago. On-farm stocks are estimated at 489 million bushels, down 33% from last September. Off-farm stocks, at 1.76 billion bushels, are down 3% from a year ago.

 

U.S. Quarterly Grain Stocks (bln bu)
 
USDA
Sep 2017
Average Trade Est.
Range of
Trade Est.
USDA
Sep 2016
Corn
 2.295
2.353
2.310-2.450
1.737
Soybeans
 0.301
0.338
0.321-0.363
0.197
Wheat
 2.253
2.205
2.083-2.495
2.545

 

2017-18 Wheat Production (bln bu)
 
USDA Sep
2017-18
Average Trade Est.
Range of
Trade Est.
USDA Aug
2017-18
All Wheat
1.741
1.718
1.660-1.761
1.739
Winter
1.269
1.286
1.267-1.319
1.287
HRW
0.750
0.758
0.749-0.765
0.758
SRW
0.292
0.305
0.286-0.316
0.306
White
0.227
0.224
0.216-0.255
0.223
Spring
0.416
0.382
0.338-0.421
0.402
Durum
0.055
0.050
0.039-0.055
0.051

 

Source: USDA, Reuters

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These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading.