On June 30, the U.S. Department of Agriculture’s National Agricultural Statistical Service (NASS) released its quarterly Grain Stocks report.
Between March 1 and June 1, combined, the USDA report showed that corn, wheat, and soybean disappearance was 15% more than the same timeframe last year. The reported high disappearance corresponded to above average rail carloads and barge movements, the USDA said. Remaining June 1 grain stocks can influence transportation demand in the coming pre-harvest months, the report predicted.
As of June 1, total corn stocks were 4.11 billion bushels, down 18% from June 2020. This was the lowest June 1 inventory since 2014, according to the USDA. Total U.S. soybean stocks were 767 million bushels (mbu), down 44% from the same time in 2020 and the lowest total for June 1 since 2015. Reported total U.S. all-wheat stocks were 844 mbu, 18% below 2020 and the lowest level for June 1 since 2015.
The Grain Stocks report contains both on- and off-farm commercial stocks of selected agricultural commodities at the state and national level as of June 1.