Grains correct after USDA’s end of September reports.

At the end of September USDA issues two reports, quarterly Grain Stocks and the annual Small Grains Summary. The Grain Stocks report is a count of old crop remaining as of September 1. For corn and soybeans this puts the stamp on official ending stocks for the completed 2022/23 marketing year. USDA, through the September 12 monthly supply/demand report, has been making estimates. For wheat this represents old crop remaining after one quarter of use. USDA’s survey included 55,900 producers of all types of grains and 8,100 storage and processing facilities for this year’s report. The second report, Small Grains Summary, revises official production for wheat, barley, oats and rye. Producer surveys and objective yield data from 10 states was noted.

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