Crop stocks data at marketing year halftime

WASHINGTON — Corn and soybean stocks halfway through the marketing year were headed in different directions in the U.S. Department of Agriculture’s quarterly grain stocks report March 31.

The USDA National Agricultural Statistics Service report estimated on-farm and off-farm storage as of March 1.

Corn

Corn stocks stored in all positions on March 1 totaled 8.15 billion bushels, down 2% from March 1, 2024.

Of the total stocks, 4.5 billion bushels were stored on farms, down 11% from a year earlier. Off-farm stocks, at 3.65 billion bushels, are up 12% from a year ago.

The December 2024-February 2025 indicated disappearance is 3.92 billion bushels, compared with 3.82 billion bushels during the same period last year.

Soybeans

On-farm and off-farm soybeans stocks on March 1 totaled 1.91 billion bushels, up 4% from March 1, 2024.

Soybean stocks stored on farms are estimated at 877 million bushels, 6% lower than a year ago. Off-farm stocks, at 1.03 billion bushels, are up 13% from last March.

Indicated usage for the December 2024-February 2025 quarter totaled 1.19 billion bushels, up 3% from the same period a year earlier.

Wheat

All wheat stored in all positions on March 1 totaled 1.24 billion bushels, 14% higher than a year ago.

On-farm storage is estimated at 307 million bushels, up 13% from last March. Off-farm stocks, at 930 million bushels, are 14% higher than a year ago.

The December 2024-February 2025 indicated disappearance is 336 million bushels, 1% above the same period a year earlier.

Survey Procedures

The grain stocks estimates in this USDA report are based on surveys conducted during the first two weeks of March. Separate surveys are conducted to obtain the on-farm and off-farm estimates.

The on-farm stocks survey is a probability survey that includes a sample of approximately 73,700 farm operators selected from a list of producers that ensures all operations in the United States have a chance to be selected.

These producers are asked to provide the total quantities of grain stored on their operations as of March 1. This includes all whole grains and oilseeds stored whether for feed, seed, or sale as well as any stored under a government program.

The off-farm stocks survey is an enumeration of all known commercial grain storage facilities. This includes approximately 7,900 facilities with 11.8 billion bushels of storage capacity. An effort is made to obtain a report from all facilities.

Reports of stock holdings are normally received from operations covering about 90% of the capacity. Estimates are made for missing facilities to make the survey complete.