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Quarterly grain stocks mostly higher on year

Quarterly U.S. grain and oilseed stocks were mostly up on the year.

The USDA says the domestic corn supply on December 1st, 2023 was 12.169 billion bushels, 13% larger than December 1st, 2022, following a year-to-year increase in production, which canceled out stronger indicated quarterly disappearance. On farm stocks were 16% higher, while off farm stocks were up 7%

Soybean stocks were 3 billion bushels, 1% less than a year ago, because of a smaller crop, while indicated quarterly disappearance declined by 6% partially due to slower export demand. On farm stocks were 2% lower, canceling out slightly higher off farm stocks.

Quarterly wheat stocks were reported at 1.41 billion bushels, 8% higher with a bigger crop in 2023 than 2024, with quarterly disappearance falling sharply because of lower global demand for U.S. wheat. On farm stocks grew 7% and off farm supplies jumped 23%.

Rough rice stocks shot 31% higher to 138.439 million hundredweight, with a big jump in production. Milled rice stocks were 5.882 million hundredweight, 4% higher.

The next round of quarterly grain stocks numbers is out in late March.

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