USDA released their September 1st Quarterly Stocks report Friday. ┬áThis report has been volatile at times but corn and soybean stocks came in just under the average of analyst’s expectations and similar to last year’s stocks report.

The report was neutral to price action for corn and soybeans and bearish for wheat.

Here is an excerpt from the USDA report:

Corn Stocks Up Slightly from September 2015

Soybean Stocks Up 3 Percent

All Wheat Stocks Up 21 Percent

Old crop corn stocks in all positions on September 1, 2016 totaled 1.74 billion bushels, up slightly from September 1, 2015. Of the total stocks, 627 million bushels are stored on farms, up 6 percent from a year earlier. Off-farm stocks, at 1.11 billion bushels, are down 2 percent from a year ago. The June – August 2016 indicated disappearance is 2.97 billion bushels, compared with 2.72 billion bushels during the same period last year.

Old crop soybeans stored in all positions on September 1, 2016 totaled 197 million bushels, up 3 percent from September 1, 2015. Soybean stocks stored on farms totaled 41.6 million bushels, down 16 percent from a year ago. Off-farm stocks, at 155 million bushels, are up 10 percent from last September. Indicated disappearance for June – August 2016 totaled 675 million bushels, up 55 percent from the same period a year earlier.

Read the complete NASS report here

Graphics courtesy of Advance Trading Inc.