U.S. old crop corn and soybean stocks have declined notably compared to last year, according to the latest Grain Stocks report from the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), released today.
As of September 1, 2025, total corn stocks stood at 1.53 billion bushels, down 13% from the same date in 2024. Soybean stocks in all positions decreased by 8% year-over-year. In contrast, all wheat stocks rose by 6% compared to last year.
Breaking down corn storage, on-farm stocks were 643 million bushels, an 18% decline from 2024, while off-farm stocks totaled 888 million bushels, down 10%. Indicated disappearance of corn from June through August 2025 was 3.11 billion bushels, slightly lower than the 3.23 billion bushels recorded during the same period in 2024.
The report also includes minor revisions to 2024 corn and soybean production, reflecting updated final marketing year figures, with both crops slightly higher than previously estimated.
Wheat stocks paint a different picture. Total wheat in all positions reached 2.12 billion bushels, up 6% from a year earlier. On-farm wheat stocks were 692 million bushels, a 4% increase, while off-farm stocks rose 7% to 1.43 billion bushels. Indicated disappearance of wheat during June–August 2025 was 715 million bushels, marking a 5% increase from the same period last year.
Durum wheat stocks totaled 71.1 million bushels, up 6% from 2024. On-farm holdings increased 9% to 51.5 million bushels, while off-farm stocks fell 3% to 19.6 million bushels. Notably, durum wheat disappearance in June–August jumped 27% year-over-year to 43.0 million bushels.
In addition to the Grain Stocks report, NASS released its Small Grains Annual Summary, highlighting that 2025 all wheat production totaled 1.98 billion bushels, a marginal increase of less than 1% from 2024. Harvested area dropped 4% to 37.2 million acres, while the U.S. yield rose 4% to 53.3 bushels per acre. Production by wheat type showed:
- Winter wheat: 1.40 billion bushels, up 3%
- Other spring wheat: 497 million bushels, down 9%
- Durum wheat: 86.2 million bushels, up 8%
The NASS survey, conducted in early September, collected detailed on-farm and off-farm data to provide an accurate snapshot of the nation’s grain stocks.
