USDA released its September 1 Grain Stocks Report, which showed old crop corn stocks in all positions totaled 1.76 billion bushels, up 29 percent from September 1, 2023. Of the total stocks, 780 million bushels are stored on farms, 29 percent higher than last year. Off-farm stocks, at 980 million bushels, were up 30 percent from a year ago.

Old crop soybeans stored in all positions on September 1, 2024, totaled 342 million bushels, up 29 percent from September 1, 2023. Soybean stocks on-farm totaled 111 million bushels, 54 percent higher than in 2023. Off-farm stocks are 20 percent above last year.

All wheat stored in all positions on September 1 totaled 1.99 billion bushels, up 12 percent from a year ago. On-farm stocks are 42 percent higher than last year at 664 million bushels. Off-farm stocks, at 1.32 billion bushels, are 13 percent higher than a year earlier.

In Indiana, corn stocks totaled 116 million bushels, 44 percent above a year earlier according to Nathanial Warenski, State Statistician, USDA NASS, Indiana Field Office. About 35 percent of the corn was stored on farms. The fourth quarter disappearance was 223 million bushels, compared with 212 million bushels a year earlier. The carryover stocks were about 10 percent of supply.

Soybean stocks on September 1, 2024, were 26.4 million bushels. That was 56 percent higher than stocks a year earlier. Farm stocks of soybeans were 3.60 million bushels. The fourth quarter indicated disappearance was 47.3 million bushels, compared with 57.9 million bushels the same period a year ago. The carryover stocks were about 8 percent of supply.

Wheat stocks on September 1, 2024, were 32.6 million bushels, 7 percent below a year ago. About 94 percent of wheat stocks were in commercial storage.