According to the latest USDA report, grain stocks in Minnesota as of June 1, 2023, showed varying trends for different crops. Corn stocks increased by 7 percent compared to the previous year, totaling 500 million bushels. The majority of corn stocks, approximately 73 percent, were stored on-farm. Indicated disappearance from March to May 2023 was slightly higher than the previous year at 356 million bushels.
On the other hand, soybean stocks in Minnesota decreased by 22 percent from June 1, 2022, amounting to 73.7 million bushels. Of these stocks, 57 percent were stored on-farm. Indicated disappearance for the same period was 83.6 million bushels, showing a slight increase of 1 percent from the previous year.
All wheat stocks in the state remained relatively stable, with a 1 percent increase compared to the previous year, totaling 26 million bushels. On-farm storage accounted for 40 percent of the total stocks. Indicated disappearance from March to May 2023 was higher than the previous year at 18.9 million bushels.
Nationally, the USDA report highlighted a 6 percent decrease in corn stocks across the United States, totaling 4.11 billion bushels on June 1, 2023. Soybean stocks also saw a decline of 18 percent, amounting to 796 million bushels. Wheat stocks decreased by 17 percent, totaling 580 million bushels.
Barley stocks in the country increased by 34 percent, while oats stocks rose by 7 percent in comparison to the previous year.
For a detailed analysis of grain stocks, including other crops, readers can access the complete report on the USDA NASS website.
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Categories: Minnesota, Crops, Corn, Soybeans, Wheat