USDA_GRAIN_STOCKS
USDA Grain Stocks
Quarterly USDA counts of grain actually in storage — the census that regularly blindsides the corn and soybean markets.
| Published by | US Department of Agriculture (USDA) |
|---|---|
| Frequency | Quarterly (Jan, Mar, Jun, Sep) |
| Release time | 12:00 PM ET |
What it measures
Grain Stocks measures corn, soybean and wheat inventories on farms and in commercial storage as of the quarter’s reference date — a physical count, not a balance-sheet estimate.
Why traders watch it
- It is the reality check on WASDE’s implied disappearance; gaps force limit-size moves.
- The September report effectively settles the old crop year’s books.
How to read it
- Compare against implied usage from the last WASDE — the residual is the surprise.
- On-farm versus commercial split hints at farmer selling behavior.
FAQ
Why do grain stocks reports cause limit moves?
A physical count can contradict months of assumed feed and residual use at once. The market reprices an entire balance sheet in one print.
How is this different from WASDE?
WASDE is an estimated balance sheet; Grain Stocks is a measured inventory. When they disagree, the count wins and WASDE adjusts next month.
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The official source of each release is authoritative. Not investment advice.