Corn stocks drop 8 percent, soybean stocks jump 10 percent

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The USDA's latest Grain Stocks report showed that corn stocks in all positions on March 1, 2012, totaled 6.01 billion bushels, down 8 percent from March 1, 2011. Of the total stocks, 3.19 billion bushels are stored on farms, down 6 percent from a year earlier. Off-farm stocks, at 2.82 billion bushels, are down 10 percent from a year ago. The December 2011 - February 2012 indicated disappearance is 3.64 billion bushels, compared with 3.53 billion bushels during the same period last year.

Soybeans stored in all positions on March 1, 2012 totaled 1.37 billion bushels, up 10 percent from March 1, 2011. Soybean stocks stored on farms are estimated at 555 million bushels, up 10 percent from a year ago. Off-farm stocks, at 817 million bushels, are up 10 percent from last March. Indicated disappearance for the December 2011 - February 2012 quarter totaled 998 million bushels, down 3 percent from the same period a year earlier.

All wheat stored in all positions on March 1, 2012 totaled 1.20 billion bushels, down 16 percent from a year ago. On-farm stocks are estimated at 217 million bushels, down 25 percent from last March. Off-farm stocks, at 983 million bushels, are down 14 percent from a year ago. The December 2011 - February 2012 indicated disappearance is 462 million bushels, down 9 percent from the same period a year earlier.

Durum wheat stocks in all positions on March 1, 2012 totaled 35.3 million bushels, down 37 percent from a year ago. On-farm stocks, at 17.4 million bushels, are down 51 percent from March 1, 2011. Off-farm stocks totaled 17.9 million bushels, down 13 percent from a year ago. The December 2011 - February 2012 indicated disappearance of 13.2 million bushels is up 10 percent from the same period a year earlier.



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