USDA’s latest “Grain Stocks” report shows there were 1.24 billion bushels of old crop corn in all positions as of September 1. This is 50% above the same time last year.
Of the total stocks, 462 million bushels of corn were stored on farms and 774 million bushels were stored off the farm, 68 and 42 percent respectively over last year. According to USDA, for the month of September, producers received on average $3.83 per bushel for corn, down from the $5.40 per bushel received last September.
USDA reported that as of September 1, there were 92.0 million bushels old crop soybeans, down 35 percent from a year ago. Of the total stocks, 21.3 million bushels of soybeans were stored on farms and 70.6 million bushels were stored off the farm, down 46 and 30 percent from last September, respectively.