According to the Grain Stocks report released by the USDA, corn stocks are down 12% and soybean stocks are down 35% from 2012. The Acreage report, also released today, puts corn planted acreage up slightly from 2012 and soybean planted acreage up 1% from last year.

Corn stocks in all positions on June 1, 2013 totaled 2.76 billion bushels, down 12% from June 1, 2012. Of the total stocks, 1.26 billion bushels are stored on farms, down 15% from a year earlier. Off-farm stocks, at 1.50 billion bushels, are down 10% from a year ago. The March-May 2013 indicated disappearance is 2.64 billion bushels, compared with 2.88 billion bushels during the same period last year.

 

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Soybeans stored in all positions on June 1, 2013 totaled 435 million bushels, down 35% from June 1, 2012. On-farm stocks totaled 171 million bushels, down 4% from a year ago. Off-farm stocks, at 263 million bushels, are down 46% from a year ago. Indicated disappearance for the March-May 2013 quarter totaled 564 million bushels, down 20% from the same period a year earlier.

Read the full Grain Stocks report from USDA.