A bountiful harvest for farmers
M.K. French
Farmer Staff Writer
The U.S. Department of Agriculture (USDA) just dropped its latest Grain Stocks report on Jan. 10, 2025, and it’s a bit of a mixed bag for American farmers. This report, a crucial snapshot of grain supplies as of Dec. 1, 2024, gives us some clues about what we might expect in the agricultural landscape for 2025.
Let’s start with corn, a staple of American agriculture. While we saw a slight dip of 1 percent compared to December 2023, totaling 12.1 billion bushels, it’s not a dramatic shift. It seems farmers are holding onto more of their corn on-farm, with on-farm storage down only 2 percent (7.66 billion bushels), while off-farm storage actually ticked up 2 percent (4.41 billion bushels). The amount of corn used between September and November was nearly the same as last year, showing consistent demand. This relatively stable situation suggests a steady market for corn in the coming year.
Soybeans, on the other hand, are looking pretty healthy. Stocks are up 3 percent, hitting 3.10 billion bushels. Both on-farm (up a solid 6 percent to 1.54 billion bushels) and off-farm storage (up 1 percent to 1.56 billion bushels) contributed to this increase. Even more encouraging: the demand for soybeans between September and November jumped by a significant 13 percent, indicating strong market interest. This points towards potentially good prices and demand for soybeans in 2025.
Wheat farmers have reason to celebrate, too. Overall wheat stocks are up a substantial 10 percent, reaching 1.57 billion bushels. Farmers are storing more wheat on their farms, with on-farm stocks up a whopping 16 percent (467 million bushels), and off-farm stocks also increased by a respectable 8 percent (1.10 billion bushels). An even more encouraging statistic was provided: the amount of wheat used between September and November surged by 22 percent. This significant increase in demand, combined with higher stock levels, could mean a positive outlook for wheat prices in 2025, especially for durum wheat which saw a large increase in on-farm stocks.
However, not all crops showed such stellar performance. Some other grains faced tougher times. Barley stocks took a hit, down 18 percent to 117 million bushels, with declines in both on-farm and off-farm storage. Oats also saw a 17 percent drop to 51.6 million bushels, mainly due to a 30 percent decrease in off-farm stocks. These declines suggest potential challenges for barley and oat markets in the coming year, possibly leading to higher prices. Grain sorghum, however, showed an 11% increase to 210 million bushels, a positive sign for those producers.
The report also gives us a glimpse into pulse crop stores: dry edible peas (7.05 million cwt), lentils (3.07 million cwt), all chickpeas (3.65 million cwt), broken down into small chickpeas (1.07 million cwt) and large chickpeas (2.59 million cwt).
What does this mean for 2025? Based on this data, we can anticipate a few key trends in 2025. The strong demand and healthy stocks for soybeans and wheat suggest a potentially prosperous year for farmers growing these crops. Corn appears to be in a stable position, with consistent demand. However, barley and oat producers might face some headwinds due to lower stock levels. Overall, the agricultural landscape for 2025 looks complex, with varying fortunes for different commodities. This recent data provides farmers with some strategic information to consider when it comes to planting and marketing decisions in the coming year.
Visit www.watfordcitynd.com and subscribe to the McKenzie County Farmer today!