WASHINGTON, DC – U.S. grain stocks are building across major crops, with corn, soybean, and wheat inventories all higher than a year ago, according to the USDA’s latest Grain Stocks report. Corn stocks totaled 9.02 billion bushels as of March 1, up 11 percent from last year, while soybean stocks reached 2.10 billion bushels, up 10 percent, and all wheat stocks increased 5 percent to 1.30 billion bushels.
Corn supplies show a notable shift toward on-farm storage. Farm-held stocks jumped 21 percent to 5.43 billion bushels, while off-farm stocks declined slightly. At the same time, corn disappearance during the December through February quarter increased to 4.28 billion bushels, indicating strong usage despite larger inventories.
Soybean stocks are also higher, driven primarily by increased off-farm storage, which rose 16 percent. However, soybean disappearance slipped slightly compared to last year, suggesting demand has softened modestly during the winter quarter.
Wheat stocks increased overall, but the breakdown tells a different story. On-farm wheat stocks declined 3 percent, while off-farm stocks rose 8 percent. Wheat disappearance during the quarter rose 12 percent, signaling stronger usage than a year ago.
Outside the major crops, grain sorghum stocks rose 15 percent with sharply higher usage, while barley and oats stocks declined despite strong disappearance. These mixed trends highlight shifting demand patterns across feed grains and secondary crops.
Farm-Level Takeaway: Larger grain stocks signal ample supplies despite steady demand.