Both on-, off-farm corn supplies dropped significantly
Old crop corn stocks on September 1 totaled 1.13 billion bushels, down 34% from the same time in 2010, according to the U.S. Department of Agriculture.
Of the total corn stocks, 315 million bushels are stored on farms, down 35% from a year earlier. Off-farm stocks, at 813 million bushels, are down 33% from a year ago. The June-August 2011 indicated disappearance is 2.54 billion bushels, compared with 2.60 billion bushels during the same period in 2010.
Old crop soybeans stored on September 1 totaled 215 million bushels, up 42% from 2010. Soybean stocks stored on farms totaled 48.5 million bushels, up 37% from the same time in 2010. Off-farm stocks, at 166 million bushels, are up 44% from last September. Indicated disappearance for June-August 2011 totaled 405 million bushels, down 4% from the same period in 2010.