U.S. Grain Inventories Surge Ahead of Winter

WASHINGTON, DC – The latest report from the USDA reveals a significant increase in U.S. grain inventories as of December 1, showcasing a broader supply of corn, soybeans, wheat, and sorghum heading into the winter season. This comprehensive Grain Stocks report highlights the prevailing trend of substantial supplies amidst solid demand during the fall months.

Corn Stocks Lead the Charge

Corn inventories have reached a staggering total of 13.3 billion bushels, marking a 10 percent increase from the previous year. On-farm stocks skyrocketed by 14 percent, while off-farm inventories saw a more modest rise of 4 percent. Notably, during the September through November period, grain disappearance peaked at 5.29 billion bushels, surpassing last year’s figures. This surge indicates robust demand across feed, ethanol, and export markets, even as supplies have been replenished.

Soybean Stocks Reflect Global Supply Dynamics

Meanwhile, soybean stocks have increased by 6 percent, totaling 3.29 billion bushels. Off-farm inventories experienced a significant uptick, rising 10 percent. However, on-farm stocks only experienced a slight increase. It’s worth noting that fall disappearance contracted by 20 percent compared to the previous year, highlighting a slowdown in export momentum amid abundant global supplies.

Wheat Stocks Exhibit Steady Growth

In the wheat sector, total stocks reached 1.68 billion bushels, which is an increase of 7 percent year-over-year. While off-farm inventories climbed by 11 percent, on-farm stocks experienced a minor decline. The fall quarter revealed a 9 percent increase in wheat disappearance relative to last year, indicating stable domestic and export demand.

Sorghum Stocks Surge Dramatically

Sorghum has seen the most impressive rise, with stocks soaring 26 percent to reach 268 million bushels. Both on-farm and off-farm holdings have risen equally, while disappearance surged by 27 percent, reflecting a robust feed and export demand against a backdrop of expanding supplies.

Conclusion: Navigating Supply and Demand

The National Agricultural Statistics Service’s report underlines the heavier grain supplies entering 2026, particularly drawing attention to corn and sorghum balances. The key takeaway for farmers is the rising grain stocks, which may exert additional supply pressure; however, the strong fall disappearance—especially for corn and sorghum—highlights that overall demand remains a pivotal balancing factor in the market.