According to the USDA's latest Grain Stocks report, all wheat stored in all positions on September 1, 2012 totaled 2.10 billion bushels, down 2 percent from a year ago. On-farm stocks are estimated at 573 million bushels, down 9 percent from last September. Off-farm stocks, at 1.53 billion bushels, are up 1 percent from a year ago. The June - August 2012 indicated disappearance is 908 million bushels, up 27 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2012 totaled 67.8 million bushels, up 6 percent from a year ago. On-farm stocks, at 43.1 million bushels, are up 23 percent from September 1, 2011. Off-farm stocks totaled 24.7 million bushels, down 14 percent from a year ago. The June - August 2012 indicated disappearance of 39.7 million bushels is up 79 percent from the same period a year earlier.