More soybeans, wheat in storage year-over-year

WASHINGTON — The quarterly survey of on-farm and off-farm storage found corn stocks lower and soybean and wheat stocks higher compared to 12 months ago.

U.S. corn stored in all positions on Dec. 1, 2024, totaled 12.1 billion bushels, down 1% from Dec. 1, 2023, according to the U.S. Department of Agriculture’s quarterly stocks report.

Of the total stocks, 7.66 billion bushels of corn are stored on farms, down 2% from a year earlier. Off-farm stocks, at 4.41 billion bushels, are up 2% from a year ago.

The September-November 2024 indicated corn disappearance is 4.56 billion bushels, compared with 4.53 billion bushels during the same period last year.

The nation’s soybeans stored in all positions on Dec. 1, 2024, totaled 3.10 billion bushels, 3% higher than on Dec. 1, 2023.

Soybean stocks stored on farms totaled 1.54 billion bushels, up 6% from a year ago. Off-farm stocks, at 1.56 billion bushels, are up 1% from last December.

Indicated disappearance for September-November 2024 totaled 1.61 billion bushels, a 13% increase from the same period a year earlier.

All U.S. wheat stored in all positions on Dec. 1, 2024, totaled 1.57 billion bushels, 10% above a year ago.

On-farm stocks are estimated at 467 million bushels, up 16% from last December. Off-farm stocks, at 1.10 billion bushels, 8% higher than a year ago.

The September-November 2024 indicated disappearance is 423 million bushels, 22% above the same period a year earlier.

Off-Farm Capacity

Capacity of off-farm commercial grain storage in the United States totaled 11.8 billion bushels on Dec. 1, 2024, up slightly from the total on Dec. 1, 2023.

The largest increases occurred in Idaho and Oregon, where an additional 2.0 million bushels of capacity were added since a year ago.

Illinois and Iowa remained the two largest off-farm storage capacity states during 2024, with 1.65 billion and 1.53 billion bushels, respectively. Kansas was the third largest, followed by Nebraska and Minnesota.

These five states accounted for 52% of the nation’s off-farm storage capacity on Dec. 1, 2024.

Off-farm storage facilities totaled 7,922 on Dec. 1, 2024, down 1% from the estimate on Dec. 1, 2023.

States with the largest number of facilities include Iowa with 820, Illinois with 800, Kansas with 690, Minnesota with 485 and Nebraska with 480.

On-Farm Capacity

The U.S. on-farm storage capacity totaled 13.6 billion bushels on Dec. 1, 2024, up less than 1% from the estimate on Dec. 1, 2023.

Iowa continues to lead all states with 2.05 billion bushels of on-farm storage capacity, followed by Minnesota with 1.55 billion bushels.

Other major states include Illinois with 1.5 billion bushels, Nebraska with 1.2 billion bushels, North Dakota with 930 million bushels and Indiana with 860 million bushels of on-farm storage capacity. These six states account for 59% of the nation’s on-farm storage capacity.

On-farm grain storage capacity includes all bins, cribs, sheds and other structures located on farms that are normally used to store whole grains, oilseeds, or pulse crops.

Corn Stocks by Position

Dec. 1, 2023 and 2024

(1,000 bushels)

Illinois

On-farm 2023: 1,100,000

Off-farm 2023: 877,732

On-farm 2024: 1,130,000

Off-farm 2024: 892,425

Indiana

On-farm 2023: 630,000

Off-farm 2023: 270,215

On-farm 2024: 650,000

Off-farm 2024: 239,193

Iowa

On-farm 2023: 1,330,000

Off-farm 2023: 754,011

On-farm 2024: 1,350,000

Off-farm 2024: 826,658

Soybean Stocks by Position

Dec. 1, 2023 and 2024

(1,000 bushels)

Illinois

On-farm 2023: 245,000

Off-farm 2023: 304,186

On-farm 2024: 255,000

Off-farm 2024: 289,623

Indiana

On-farm 2023: 145,000

Off-farm 2023: 102,945

On-farm 2024: 165,000

Off-farm 2024: 97,972

Iowa

On-farm 2023: 190,000

Off-farm 2023: 269,648

On-farm 2024: 220,000

Off-farm 2024: 285,972