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WASHINGTON, D.C., U.S. — U.S. wheat stored in all positions on March 1 totaled 1,124,398,000 bushels, up 6% from 1,056,965,000 bushels on March 1, 2014, the U.S. Department of Agriculture (USDA) said in its March 31 Grain Stocks report.

On-farm stocks of wheat were 278,710,000 bushels, up 17% from 237,530,000 bushels a year ago, while off-farm stocks were 845,688,000 bushels, up 3% from 819,435,000 bushels in 2014. Indicated disappearance of wheat during the December 2014-February 2015 period was 405 million bushels, down 3% from the same period a year earlier, the USDA said.

The USDA all wheat stocks number was below pre-report trade expectations that averaged about 1.143 billion bushels.

Durum stocks on March 1 were 37,622,000 bushels, down 1% from 38,130,000 bushels a year ago. On-farm durum stocks were 16,200,000 bushels, down 22% from a year earlier, while off-farm stocks were 21,422,000 bushels, up 23%. Indicated disappearance during the December-February period was 6.43 million bushels, down 59% from a year earlier, the USDA said.

Stocks of corn in all positions on March 1 totaled 7,744,906,000 bushels, up 11% from 7,008,123,000 bushels a year ago. On-farm corn stocks were 4,380,000,000 bushels, up 13% from last year, and off-farm stocks were 3,364,906,000 bushels, up 7% from a year ago. Indicated disappearance of corn during the December-February period was 3.47 billion bushels, up about 1% from the same period last year, the USDA said.

Soybean stocks in all positions were 1,333,722,000 bushels, up 34% from 993,828,000 bushels on March 1, 2014, the USDA said. On-farm stocks were 609,200,000 bushels, up 60% from last year, and off-farm stocks totaled 724,522,000 bushels, up 18%. Indicated disappearance during December-February was 1.19 billion bushels, up 3% from the same period a year earlier, the USDA said.

The USDA stocks numbers were above trade expectations for corn, which averaged 7.628 billion bushels, and were below for soybeans, which averaged 1.341 million bushels.

March 1, 2015, grain sorghum stocks in all positions totaled 118,544,000 bushels, down 33% from a year ago, oats stocks totaled 59,360,000 bushels, up 69%, and barley stocks totaled 117,899,000 bushels, down 3%.

Source: World Grain