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WASHINGTON, DC, US – The US Department of Agriculture on Sept. 30, in its quarterly Grain Stocks report, estimated stocks of wheat held in all positions in the United States on Sept. 1, 2021, at 1.80 billion bushels, down 377.887 million bushels, or 18%, from 2.158 billion bushels a year ago. Of the Sept. 1 total, 419.19 million bushels, or 24%, was stored on farms with the remainder in commercial storage. Wheat disappearance in June-August, the first quarter of the 2021-22 crop year for wheat, totaled 711.065 million bushels, up 14.786 million bushels, or 2%, from 696.279 million in the first quarter of 2020-21.

The average of pre-report trade estimates for the all-wheat Sept. 1 inventory was 1.852 billion bushels.

The largest Sept. 1 regional wheat inventory was held in the hard red winter wheat states of the Southwest, including Kansas, Oklahoma, Texas, Colorado, and Nebraska. Southwest wheat stocks totaled 741.836 million bushels, down 16.501 million bushels, or 2%, from 758.337 million bushels a year ago. Wheat stocks held on farms in the region was estimated at 74.5 million bushels, or 10% of the Southwest inventory. Wheat disappearance in the Southwest in the first quarter totaled 309.882 million bushels, up 98.904 million bushels, or 47%, from 210.978 million bushels in June-August 2020.

The second-largest regional wheat inventory on Sept. 1. was held in the spring wheat states of the Upper Midwest, including Minnesota, North Dakota, South Dakota and Montana. The Upper Midwest inventory totaled 438.293 million bushels, down 272.144 million bushels, or 38%, from 710.437 million bushels on Sept. 1, 2020. Fifty-three percent of the Upper Midwest stocks, or 231.5 million bushels, was stored on farms. The huge on-farm inventory in the region accounted for 55% of all wheat stocks held on farms across the United States on Sept. 1. Wheat disappearance in the Upper Midwest in June-August totaled 208.937 million bushels, down 77.666 million bushels, or 27%, from 286.603 million bushels in the same span a year ago.

The Sept. 1 wheat inventory in the key soft red winter wheat region of the Central states — Missouri, Illinois, Indiana, Ohio and Michigan — was estimated at 205.928 million bushels, up 32.616 million bushels, or 19%, from 173.312 million bushels a year ago. On-farm wheat holdings totaled 25.3 million bushels, or 12% of the region’s inventory. Wheat use in the Central states in June-August totaled 45.016 million bushels, down 5.535 million bushels, or 11%, from 50.551 million bushels in the first quarter of 2020-21.

Wheat stocks held in storage in the soft white winter wheat states of the Pacific Northwest — Idaho, Washington and Oregon — on Sept. 1 totaled 202.179 million bushels, down 135.066 million bushels, or 40%, from 337.245 million bushels a year ago. On-farm stocks in the region were estimated at 45.2 million bushels, or 24% of the region’s total inventory. Wheat disappearance in the Pacific Northwest in the first quarter of 2021-22 totaled 65.887 million bushels, down 23.076 million bushels, or 26%, from 88.963 million bushels in June-August 2020.

Durum wheat held in all positions on Sept. 21 totaled 46.908 million bushels, down 24.109 million bushels, or 34%, from 71.017 million bushels a year ago. Of the nation’s Sept. 1 durum inventory, 21 million bushels, or 45% of the total, was held on farms. June-August use of durum was estimated at 17.717 million bushels, down 22.004 million bushels, or 55%, from 39.721 million bushels in the same months in 2020.

Sept. 1 old crop corn stocks were estimated at 1.236 billion bushels, down 682.981 million bushels, or 36%, from 1.919 billion bushels a year ago.

Sept. 1 old crop soybean stocks were estimated at 256.179 million bushels, down 268.362 million bushels, or 51%, from 524.541 million bushels a year ago.

For both corn and soybeans, the Sept. 1 inventories comprised the 2021-22 carry-in supply.

Source: World Grain