USDA: US soybean ending stocks down 42% from September 2019
The USDA’s National Agricultural Statistics Service released its latest quarterly Grain Stocks report on Sept. 30, reporting that old crop soybeans stored in all positions on Sept. 1 totaled 523 million bushels, down 47 percent from a year ago.
Soybean stocks stored on farms totaled 141 million bushels, down 47 percent from the same period of last year. Off-farm stocks, at 382 million bushels, were down 41 percent from last September. Indicated disappearance for June-August 2020 totaled 858 million bushels, down 2 percent from the same period of a year earlier.
According to the report, 2019 soybean production is revised down 333,000 bushels from the previous estimate. Planted area is unchanged at 76.1 million acres, but harvested area is revised to 74.9 million acres. The 2019 yield, at 47.4 bushels per acre, is unchanged from the previous estimate.
The next grain stocks report is expected to be released in January. Additional information is available on the USDA website.
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