LANSING — Finding adequate storage for new crop corn and soybeans might prove challenging as the 2017 harvest gets underway. According to the most recent USDA, NASS, Great Lakes Regional Office report, as of September 1, Michigan corn stocks totaled 49.2 million bushels, 26 percent higher than a year earlier, with about 38 percent of it stored on-farm.
According to the report soybean stocks were 20 percent higher than last year at 7.1 million bushels with 2.2 million bushels stored on-farm. Wheat stocks were pegged at 52.6 million bushels, 2 percent below a year ago. Approximately 91 percent of wheat stocks were in commercial storage.
Old crop U.S. corn stocks in all positions, totaled 2.29 billion bushels, up 32 percent from last year at this time with 787 million bushels stored on-farms, up 25 percent from a year earlier. Off-farm stocks, 1.51 billion bushels, were up 36 percent from a year ago. Meanwhile, the June – August 2017 indicated disappearance was 2.93 billion bushels, compared with 2.97 billion bushels during the same period last year.
Old crop soybeans stored in all positions, totaled 301 million bushels, up 53 percent from last year, with soybeans stored on farms were estimated at 87.9 million bushels, up 112 percent from a year ago. Off-farm stocks, 213 million bushels, were up 38 percent from last September. Indicated disappearance for the June – August 2017 quarter totaled 665 million bushels, down 2 percent from last year.
All wheat stored in all positions on, totaled 2.25 billion bushels, down 11 percent from a year ago. On-farm stocks were estimated at 489 million bushels, down 33 percent from last September. Off-farm stocks, 1.76 billion bushels, were down 3 percent from a year ago. The June – August 2017 indicated disappearance was 668 million bushels, down 10 percent from the same period a year earlier.
Robert Geers is a Grain Merchandizer at Michigan Ag Commodities (MAC) in Lansing Michigan. “On paper, Michigan should be able to handle the projected crops if all temporary space is utilized and you factor in disappearance for Sep/Oct/Nov, but nothing always works as well as it looks on paper. These space challenges however can be minimized if the railroads are able to perform, exports markets are able to stay open and if harvest begins early and is spread across September through November. So far, rail logistics on soybeans out of Indiana and Ohio have moved smoothly, exports markets remain open and soybean harvest started in mid-September, a full two weeks earlier than last year, so most of the beans should be harvested by the time corn starts, allowing for an orderly progression of harvest. Soybeans are also very dry this year which helps with elevator logistics. As far as the effects of the hurricanes on Michigan, I expect this to be minimal as the storms did not hit the gulf export markets or affect any of the rail lines getting to the gulf or east coast export markets.”
— Michigan Farm Bureau
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