Old-crop corn stocks in all positions on Sept. 1, 2012 totaled 988 million bushels, down 12% from Sept. 1, 2011. Of the total stocks, 314 million bushels are stored on farms, down slightly from a year earlier. Off-farm stocks, at 675 million bushels, are down 17% from a year ago. The June-August 2012 indicated disappearance is 2.16 billion bushels, compared with 2.54 billion bushels during the same period last year.

Old-crop soybeans stored in all positions on Sept. 1, 2012 totaled 169 million bushels, down 21% from Sept. 1, 2011. Soybean stocks stored on farms totaled 38.3 million bushels, down 21% from a year ago. Off-farm stocks, at 131 million bushels, are down 21% from last September. Indicated disappearance for June-August 2012 totaled 498 million bushels, up 23% from the same period a year earlier.

Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings and farm program administrative data, the 2011 soybean production is revised to 3.09 billion bushels, up 37.5 million bushels from the previous estimate. Planted area is revised up 70,000 acres.

Harvested area is revised up 140,000 acres to 73.8 million acres. The 2011 yield, at 41.9 bu./acre, is up 0.4 bu. from the previous estimate.

Read the full report from USDA.