Michigan: Grain stocks as of June 1

The state’s corn and wheat stocks are higher than in June 2023, while soybeans are significantly lower

PUBLISHED ON July 3, 2024

EAST LANSING, Michigan — As of June 1, 2024, corn stocks in Michigan totaled 117 million bushels, up 17 percent from a year earlier, according to Marlo D. Johnson, regional director of the USDA NASS, Great Lakes Regional Office and Michigan Grain Stocks Report. About 56 percent of the corn was stored on farms. The third-quarter loss was 84.7 million bushels, compared to 75.3 million bushels a year earlier.

Soybean inventories totaled 16.2 million bushels on June 1, 2024, down 46 percent from a year earlier. Farmer soybean inventories totaled 8.00 million bushels. The reported loss in the third quarter was 27.5 million bushels, compared to 15.9 million bushels in the same period a year ago.

Michigan wheat inventories totaled 19.8 million bushels on June 1, 2024, up 48 percent from a year earlier. The reported loss in the fourth quarter was 10.0 million bushels, compared to 6.11 million bushels a year earlier. About 96 percent of wheat inventories 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 ago. Off-farm stocks are at 1.97 billion bushels, up 4 percent from a year ago. The loss reported from March to May 2024 is 3.36 billion bushels, compared to 3.29 billion bushels during the same period last year.

Soybeans in storage in all warehouses as of June 1, 2024, totaled 970 million bushels, up 22 percent from June 1, 2023. On-farm inventories totaled 466 million bushels, up 44 percent from a year earlier. Off-farm inventories totaled 504 million bushels, up 6 percent from a year earlier. The stated loss for the March-May 2024 quarter was 875 million bushels, down 2 percent from the same period a year earlier.

The total amount of old crop wheat stored in all warehouses as of June 1, 2024, was 702 million bushels, up 23 percent from last year. On-farm inventories are estimated at 139 million bushels, up 12 percent from last year. Off-farm inventories are 563 million bushels, up 27 percent from last year. The reported loss for March-May 2024 is 387 million bushels, up 4 percent from the same period last year.

The full report on Michigan grain stocks can be found here.

— USDA National Agricultural Statistics Service