State’s corn and wheat stocks more than June 2023, while soybeans significantly less

PUBLISHED ON July 3, 2024

EAST LANSING, Mich. — On June 1, 2024, Michigan corn stocks totaled 117 million bushels, 17 percent above a year earlier, according to Marlo D. Johnson, Regional Director of USDA NASS, Great Lakes Regional Office and the Michigan Grain Stocks report. About 56 percent of the corn was stored on farms. The third quarter disappearance was 84.7 million bushels, compared with 75.3 million bushels a year earlier.

Soybean stocks on June 1, 2024, were 16.2 million bushels. That was 46 percent lower than stocks a year earlier. Farm stocks of soybeans were 8.00 million bushels. The third quarter indicated disappearance was 27.5 million bushels, compared with 15.9 million bushels the same period a year ago.

Wheat stocks on June 1, 2024, in Michigan were 19.8 million bushels, 48 percent above a year ago. Fourth quarter indicated disappearance was 10.0 million bushels, compared with 6.11 million bushels last year. About 96 percent of wheat stocks were in commercial storage. 

Nationally, corn stocks in all positions on June 1, 2024 totaled 4.99 billion bushels, up 22 percent from June 1, 2023. Of the total stocks, 3.03 billion bushels are stored on farms, up 37 percent from a year earlier. Off-farm stocks, at 1.97 billion bushels, are up 4 percent from a year ago. The March – May 2024 indicated disappearance is 3.36 billion bushels, compared with 3.29 billion bushels during the same period last year.

Soybeans stored in all positions on June 1, 2024 totaled 970 million bushels, up 22 percent from June 1, 2023. On-farm stocks totaled 466 million bushels, up 44 percent from a year ago. Off-farm stocks, at 504 million bushels, are up 6 percent from a year ago. Indicated disappearance for the March – May 2024 quarter totaled 875 million bushels, down 2 percent from the same period a year earlier.

Old crop all wheat stored in all positions on June 1, 2024 totaled 702 million bushels, up 23 percent from a year ago. On-farm stocks are estimated at 139 million bushels, up 12 percent from last year. Off-farm stocks, at 563 million bushels, are up 27 percent from a year ago. The March – May 2024 indicated disappearance is 387 million bushels, up 4 percent from the same period a year earlier.

Find the full Michigan Grain Stocks report here.

— USDA National Agricultural Statistics Service