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USDA: Corn, soybean stocks down 17% from September

USDA: Corn, soybean stocks down 17% from September
Old crop corn stocks in all positions on Sept. 1, 2013 totaled 824 million bushels, down 17% from Sept. 1, 2012. Of the total stocks, 275 million bushels are stored on farms, down 12% from a year earlier. Off-farm stocks, at 549 million bushels, are down 19% from a year ago. The June-August 2013 indicated disappearance is 1.94 billion bushels, compared with 2.16 billion bushels during the same period last year.
Old crop soybeans stored in all positions on Sept. 1, 2013 totaled 141 million bushels, also down 17% from Sept. 1, 2012. Soybean stocks stored on farms totaled 39.6 million bushels, up 3% from a year ago. Off-farm stocks, at 101 million bushels, are down 23% from last September. Indicated disappearance for June-August 2013 totaled 294 million bushels, down 41% from the same period a year earlier.
Based on an analysis of end-of-marketing year stock estimates, disappearance data for exports and crushings, and farm program administrative data, the 2012 soybean production is revised to 3.03 billion bushels, up 18.6 million bushels from the previous estimate. Planted area is unchanged, but harvested area is revised up 60,000 acres to 76.2 million acres. The 2012 yield, at 39.8 bushels per acre, is up 0.2 bushel from the previous estimate.
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