The USDA NASS released the grain stock report Sept. 30 showing both corn and soybeans were up.
Old crop corn stocks in all positions on Sept. 1 totaled 1.74 billion bushels, up slightly from Sept. 1, 2015. Old crop soybeans stored in all positions on Sept. 1 totaled 197 million bushels, up 3 percent from Sept. 1, 2015.
The news left the market “somewhat muted,” according to market analyst and producer Kevin Van Trump. The corn and soybean prices were slightly higher after the report was released.
Van Trump said in his report he plans on making no changes to his marketing strategy.
Of the total corn stocks, 627 million bushels are stored on farms, up 6 percent from a year earlier. Off-farm stocks, at 1.11 billion bushels, are down 2 percent from a year ago. The June – August 2016 indicated disappearance is 2.97 billion bushels, compared with 2.72 billion bushels during the same period last year.
Soybean stocks stored on farms totaled 41.6 million bushels, down 16 percent from a year ago. Off-farm stocks, at 155 million bushels, are up 10 percent from last September. Indicated disappearance for June – August 2016 totaled 675 million bushels, up 55 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 2015 soybean production is revised down 2.82 million bushels from the previous estimate. Planted area is unchanged at 82.7 million acres, and harvested area is revised down 82,000 acres to 81.7 million acres. The 2015 yield, at 48 bushels per acre, is unchanged from the previous estimate.