Corn stocks rise while wheat, barley inventories decline in latest USDA report

U.S. grain inventories were mixed heading into the 2026-27 marketing year, according to the latest Grain Stocks report released Sept. 30 by the United States Department of Agriculture (USDA).

The report showed higher corn stocks compared to a year ago, while wheat, barley, and soybean inventories were lower.

The Sept 1. stocks report measures how much grain remained in storage before the bulk of this year’s harvest entered the system. For producers, it provides a comparison of available supplies with the previous year.

Old-crop corn stocks totaled 2.10 billion bushels as of Sept. 1, up 35 per cent from the same date in 2025. Of that total, 787 million bushels were stored on farms and 1.31 billion bushels were held off farm. Corn disappearance during the June-to-August quarter was estimated at 3.20 billion bushels, compared to 3.10 billion bushels a year earlier.

Soybean stocks were reported at 315 million bushels, down three per cent from Sept. 1, 2025. On-farm stocks totaled 90.4 million bushels, while off-farm holdings were estimated at 225 million bushels. The report estimated June-to-August disappearance at 744 million bushels, up from 683 million bushels during the same period last year.

All wheat stocks totaled 1.85 billion bushels on Sept. 1, down 14 per cent from a year earlier. The USDA reported 547 million bushels in on-farm storage and 1.30 billion bushels stored off farm. Wheat disappearance from June through August was estimated at 608 million bushels.

Among other crops, barley stocks were estimated at 131 million bushels, down 13 per cent from Sept. 1, 2025. Oat stocks increased five per cent to 67.5 million bushels, while grain sorghum stocks declined 13 per cent to 35 million bushels.

The report also noted that the National Agricultural Statistics Service (NASS) completed its annual review of corn and soybean balance sheets, resulting in revisions to 2025 acreage, yield, and production estimates for both crops.

This year, corn stocks were higher than they were last September, while wheat and barley stocks were lower. Oat stocks were slightly higher and soybean stocks were down slightly from a year ago.