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NASS June stocks briefing: on‑farm holdings drive year‑over‑year gains in corn and soybeans
Summary
NASS reported year‑over‑year increases in on‑ and off‑farm stocks for several crops: corn stocks rose to 4.99 billion bushels (on‑farm +36.5%), soybean stocks to 970 million bushels (on‑farm +44.4%), and rice stocks also increased; NASS emphasized the distinction between on‑farm and commercial (off‑farm) stocks.
The National Agricultural Statistics Service reported notable year‑over‑year increases in grain stocks in its June briefing, with on‑farm holdings driving the gains for major row crops.
Acting Crops Branch chief Nick Strap said corn stocks in all positions totaled 4,990,000,000 bushels, up 21.7% from the prior year, with on‑farm stocks up 36.5% and off‑farm stocks up 4.3%.
"You can see on‑farm stocks are driving that increase there," Strap said, explaining that on‑farm inventory reported by producers contributed the bulk of the corn stocks rise.
Soybean stocks in all positions were reported at 970,000,000 bushels, up 21.8% year‑over‑year; on‑farm soybean stocks rose 44.4% while off‑farm stocks rose 6.4%. Rice stocks in all positions were 60,100,000 hundredweight (up 37.3%), with both on‑farm and off‑farm categories rising.
For wheat, Strap reported material year‑over‑year increases in stocks (on‑farm +11.7% and off‑farm +26.5% and a total percentage increase of +23.3%), though the transcript recording of the raw bushel total for "all‑wheat stocks" is garbled in the briefing record; the percent change is clear in the presentation. NASS also reviewed stocks for other crops (barley, canola, chickpeas, pulses, lentils, oats, rye, sorghum, durum) and highlighted several record highs and lows among minor crops.
Strap reiterated NASS methodology: small‑grain stocks generally represent ending stocks entering harvest while row‑crop stocks are third‑quarter inventory estimates, and on‑farm values come from producer responses while off‑farm numbers come from the commercial storage facility survey. The agency invited follow‑up by phone or email and will publish official estimates on nass.usda.gov.
