US 2017 Corn Stocks +32.1% Y/Y To 2.295 Bln As Of Sept 1>

--All Wheat -11.5% Y/Y, Soybeans +53.2% Y/Y Compared With Sept 1, 2016 

By Kevin Kastner

     WASHINGTON (MNI) - Corn stocks totaled 2.295 billion bushels as of 

September 1, up 32.1% from September 1, 2016 and a sharp acceleration 

from the 11.0% year/year increase reported as of June 1 partially due to 

decreased summer usage compared with 2016, the U.S Department of 

Agriculture reported Friday. 

     There were 787 million bushels of corn reported on stock at farms 

on September 1, ahead of the 627 million total at the same time last 

year. There were 1.508 billion bushels stored outside of farms at mills, 

elevators, warehouses, terminals and processors, the USDA said in its 

quarterly report, up from 1.110 billion at the same point a year 

earlier. 

     For all wheat, September 1 stocks were down 11.5% from a year 

earlier, hitting 2.253 billion barrels. The year/year gain for all wheat 

was 21.0% in the June 1 report. 

     Stocks of wheat held on farms totalled 489 million, down from 728 

million as of September 1, 2016, while off-farm stocks totalled 1.764 

billion, down from 1.817 billion a year earlier. 

     Soybean stocks were up 53.2% on September 1 from a year earlier, 

totaling 301 million compared with 197 million on the same date in 2016. 

Soybean stocks were up 10.8% year/year in the June 1 report. 

     On-farm soybean stocks totalled 88 million as of September 1, up 

from 42 million at the same point in 2016. Off-farm soybean stocks 

totalled 213 million, up from 155 million last year. 

     ** MNI Washington Bureau (202) 371-2121 ** 

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