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Quarterly grain, oilseed stocks mostly up on year
U.S. grain and oilseed stocks on December 1st, 2024 were mostly up on the year.
Corn was the exception at 12.074 billion bushels, 1% less than the previous year, with a slight increase in implied disappearance during the first quarter of the marketing year and a smaller crop in 2024 than 2023.
Soybeans were pegged at 3.1 billion bushels, an increase of 3%, with a higher rate of quarterly demand canceled out by a larger crop.
Wheat stocks of 1.57 billion bushels were 10% higher with a year-to-year rise in production more than canceling out solid second quarter usage.
Sorghum came out at 210.257 million bushels, a jump of 11%, as a bigger U.S. crop canceled out improved demand.
Rough rice stocks of 140.217 million hundredweight were up 1%, while milled rice stocks climbed 12% to 6.614 million hundredweight.
On and off farm storage capacity were both up from the prior year.
The USDA’s next round of supply and demand estimates is out February 11th.
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