In USDA’s quarterly stocks report, September 1 old-crop corn stocks totaled 2.14 billion bushels. That’s a decline of seven7 percent from one year ago. There are 620 million bushels are stored on-farm, which is down 21 percent from September of 2017. Off-farm corn stocks are up one percent from a year ago at 1.52 billion bushels. Old-crop soybean stocks totaled 438 million bushels, a 45 percent increase from one year ago. Soybean stocks stored on-farm are at 101 million bushels, up 15 percent from one year ago. Off-farm stocks are at 337 million bushels, increasing 58 percent from last September. U.S. wheat stocks totaled 2.38 billion bushels, up five percent from one year ago. On-farm stocks are at 631 million bushels, a 28 percent increase from last September. Off-farm stocks, at 1.75 billion bushels, are down one percent compared to the previous year.
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