According to USDA estimates, as of September 1, wheat stocks in the US were estimated at 48.4 mln tonnes, slightly lower than in the same period in 2022, including 1.6 mln tonnes of durum wheat (+7% y/y), reports Apkinform.
Corn stocks at the beginning of September amounted to 34.6 mln tonnes (-1%). Based on the analysis of the end-of-season stock estimates, export data, and administrative data of the farm program, USDA analysts revised the estimate of corn production in the U.S. in 2022/23 MY by 0.4 mln tonnes downward to 348.4 mln tonnes.
As for the other grains, the stocks of sorghum are estimated at 0.6 mln tonnes (-49%), barley – 3.9 mln tonnes (+9%), and oats – 1.1 mln tonnes (+20%).
Soybean stocks as of early September were estimated at 7.3 mln tons (-2%). As for the oilseed production in the U.S. in 2022/23 MY, the estimate was reduced by 0.2 mln tonnes to 116.2 mln tonnes.