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USDA Grain Stocks Report Released

USDA Reports

Corn Stocks Up 15 Percent from June 2014
Soybean Stocks Up 54 Percent
All Wheat Stocks Up 28 Percent


Corn stocks in all positions on June 1, 2015 totaled 4.45 billion bushels, up 15 percent from June 1, 2014. Of the total stocks, 2.28 billion bushels are stored on farms, up 22 percent from a year earlier. Off-farm stocks, at 2.17 billion bushels, are up 9 percent from a year ago. The March - May 2015 indicated disappearance is 3.30 billion bushels, compared with 3.16 billion bushels during the same period last year.

Soybeans stored in all positions on June 1, 2015 totaled 625 million bushels, up 54 percent from June 1, 2014. On-farm stocks totaled 246 million bushels, up 126 percent from a year ago. Off-farm stocks, at 379 million bushels, are up 28 percent from a year ago. Indicated disappearance for the March - May 2015 quarter totaled 701 million bushels, up 19 percent from the same period a year earlier.

Old crop all wheat stored in all positions on June 1, 2015 totaled 753 million bushels, up 28 percent from a year ago. On-farm stocks are estimated at 155 million bushels, up 60 percent from last year. Off-farm stocks, at 597 million bushels, are up 21 percent from a year ago. The March - May 2015 indicated disappearance is 388 million bushels, down 17 percent from the same period a year earlier.

Old crop Durum wheat stocks in all positions on June 1, 2015 totaled 25.9 million bushels, up 20 percent from a year ago. On-farm stocks, at 10.3 million bushels, are down 20 percent from June 1, 2014. Off-farm stocks totaled 15.6 million bushels, up 79 percent from a year ago. The March - May 2015 indicated disappearance of 11.8 million bushels is down 29 percent from the same period a year earlier.

Old crop barley stocks in all positions on June 1, 2015 totaled 78.7 million bushels, down 4 percent from June 1, 2014. On-farm stocks are estimated at 20.9 million bushels, 10 percent above a year ago. Off-farm stocks, at 57.7 million bushels, are 9 percent below June 1, 2014. The March - May 2015 indicated disappearance is 39.6 million bushels, 1 percent above the same period a year earlier.

Old crop oats stored in all positions on June 1, 2015 totaled 53.7 million bushels, 117 percent above the stocks on June 1, 2014. Of the total stocks on hand, 15.1 million bushels are stored on farms, 56 percent higher than a year ago. Off-farm stocks totaled 38.6 million bushels, 157 percent above the previous year. Indicated disappearance during March - May 2015 totaled 5.71 million bushels, compared with 10.4 million bushels during the same period a year ago.

Grain sorghum stored in all positions on June 1, 2015 totaled 33.2 million bushels, down 64 percent from a year ago. On-farm stocks, at 2.92 million bushels, are down 35 percent from last year. Off-farm stocks, at 30.3 million bushels, are down 66 percent from June 1, 2014. The March - May 2015 indicated disappearance from all positions is 86.7 million bushels, up 4 percent from the same period last year.

Pulse crops stored in all positions on June 1, 2015 are: dry edible peas, 3.12 million cwt; lentils, 655 thousand cwt; Austrian winter peas, 52,000 cwt; all chickpeas, 762,000 cwt; small chickpeas, 177,000 cwt; and large chickpeas, 585,000 cwt. Small chickpeas are defined as peas that will pass through a 20/64 inch round hole screen

Click Here for the full USDA Report Detail

Source: USDA


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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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