USDA: Corn, soybean stocks drop 17% from 2011

According to the USDA's latest Grain Stocks report, corn stored in all positions on December 1, 2012 totaled 8.03 billion bushels, down 17 percent from December 1, 2011.

Of the total stocks, 4.59 billion bushels are stored on farms, down 26 percent from a year earlier. Off-farm stocks, at 3.44 billion bushels, are down 1 percent from a year ago. The September - November 2012 indicated disappearance is 3.74 billion bushels, compared with 3.84 billion bushels during the same period last year.

Soybeans stored in all positions on December 1, 2012 totaled 1.97 billion bushels, down 17 percent from December 1, 2011. Soybean stocks stored on farms totaled 910 million bushels, down 20 percent from a year ago. Off-farm stocks, at 1.06 billion bushels, are down 14 percent from last December. Indicated disappearance for September - November 2012 totaled a record high 1.22 billion bushels, up 30 percent from the same period a year earlier.

All wheat stored in all positions on December 1, 2012 totaled 1.66 billion bushels, down slightly from a year ago. On-farm stocks are estimated at 400 million bushels, down 1 percent from last December. Off-farm stocks, at 1.26 billion bushels, are up slightly from a year ago. The September - November 2012 indicated disappearance is 445 million bushels, down 8 percent from the same period a year earlier.

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