USDA | WASHINGTON, Sept. 30, 2024 – Old crop corn stocks on hand as of Sept. 1, 2024 totaled 1.76 billion bushels, up 29% from Sept. 1, 2023, according to the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) Grain Stocks report released today. Old crop soybeans stored in all positions were up 29% from Sept. 1, 2023, and all wheat stocks were up 12% from a year earlier.
Of the total corn stocks,780 million bushels were stored on farms, up 29% from last year. Off-farm stocks, at 980 million bushels, were up 30% from a year ago. The June-August 2024 indicated disappearance was 3.24 billion bushels, compared with 2.74 billion bushels during the same period a year earlier.
Old crop soybeans stored in all positions on Sept. 1, 2024 totaled 342 million bushels, up 29% from Sept. 1, 2023. Soybean stocks stored on farms totaled 111 million bushels, up 54% from a year ago. Off-farm stocks, at 231 million bushels, were up 20% from last September. Indicated disappearance for June-August 2024 totaled 628 million bushels, up 18% from the same period a year earlier.
This report also contains revisions to the previous season’s production for corn and soybeans, which is normal for this time of year since the marketing year is complete. Production for 2023 corn and soybeans were each revised down slightly from the previous estimate.
All wheat stored in all positions on Sept. 1, 2024, totaled 1.99 billion bushels, up 12% from a year ago. On-farm stocks were estimated at 664 million bushels, up 11% from last September. Off-farm stocks, at 1.32 billion bushels, were up 13% from a year ago. The June-August 2024 indicated disappearance was 682 million bushels, up 12% from the same period last year.
Durum wheat stocks in all positions on Sept. 1, 2024, totaled 67.3 million bushels, up 17% from a year ago. On-farm stocks, at 47.1 million bushels, were up 42% from Sept. 1, 2023. Off-farm stocks totaled 20.2 million bushels, down 16% from a year ago. The June-August 2024 indicated disappearance of 33.8 million bushels was up 13% from the same period last year.
