Soybean Inventory Plunges 35%
WASHINGTON - Sep 30/14 - SNS -- Old crop soybeans stored in all positions on September 1, 2014 totaled 92.0 million bushels, down 35% from September 1, 2013, according to the USDA's latest stocks in all positions estimates.
Soybean stocks stored on farms totaled 21.3 million bushels, down 46% from a year ago. Off-farm stocks, at 70.6 million bushels, are down 30% from last September.
Indicated disappearance for June - August 2014 totaled 313 million bushels, up 6% 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 2013 soybean production is revised to 3.36 billion bushels, up 69.2 million bushels from the previous estimate.
Planted area is revised up 307,000 acres to 76.8 million acres, and harvested area is revised up 384,000 acres to 76.3 million acres. The 2013 yield, at 44.0 bushels per acre, is up 0.7 bushel from the previous estimate.
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