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Analysis

US corn stockpiles rise 35 percent

US corn stocks left from the previous harvest reached 2.10 billion bushels on September 1, up 35 percent from a year earlier. The agriculture department’s September release also reported lower soybean stocks and a smaller wheat harvest. Corn held outside farms increased faster than farmers’ own stocks, while indicated summer use rose.

Economics & Markets··Midday
Grain bins and a truck at a US corn storage facility.

More corn carried into September

The US Department of Agriculture reported 2.10 billion bushels of corn remaining from the previous harvest on September 1. Stocks were 35 percent above their year-earlier level. The September 30 release measured holdings on farms and at other storage locations. The statistics service carried out separate on-farm and off-farm surveys during the first two weeks of September.[1], [2]

Off-farm holdings rise faster

Corn stored on farms totaled 787 million bushels, up 22 percent from a year earlier. Off-farm holdings increased 44 percent to 1.31 billion bushels. Indicated disappearance during June–August reached 3.20 billion bushels, compared with 3.09 billion a year earlier. The department also revised 2025 corn production down by less than 1 percent after the marketing year ended and reduced its soybean production estimate slightly.[1]

Wheat harvest contracts

The accompanying annual small grains figures put 2026 wheat production at 1.53 billion bushels, 23 percent below the revised 2025 total. Harvested area fell 15 percent to 31.9 million acres, and yield declined 10 percent to 48.1 bushels per acre. Winter wheat output fell 27 percent, other spring wheat 10 percent and durum wheat 24 percent. Old-crop soybean stocks declined 3 percent; durum wheat stocks were 13 percent lower.[1]

References

  1. News sourceUSDA National Agricultural Statistics ServiceUS corn stocks rise 35 percent as wheat production falls↩1↩2↩3
  2. News sourceSuccessful FarmingCorn stocks expand across the United States↩