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U.S. grain stocks (NASS, quarterly)

Stocks on Sep 1, 2026 · released Sep 30, 2026 · next release Jan 12

Corn stocks on Sep 1, 2026 came in at 2,095 mil. bu, +173 mil. bu above USDA’s estimate (+9.0%); the 9th largest gap of 17 since 2009/10.

Total stocks, Sep 1
2,095 mil. bu
≈ 53.22 MMT
Held on farms
37.6%
787 mil. bu on farms · 1,308 mil. bu off farms
vs a year earlier
+35.1%
same stock date, previous year
Next release
Jan 12, 2027
12:00 ET
Chapter 01 · Grain Stocks · vs WASDE

Ending stocks vs USDA’s estimate

On Sep 1, 2026 NASS counted 2,095 mil. bu: +173 mil. bu vs the September 2026 WASDE estimate of 1,922 mil. bu (+9.0%), the 9th largest gap of 17 (2009/10–2025/26). That gap is larger than 50% of them.

-400-200020040009/10: 32210/11: 20811/12: -19312/13: 16313/14: 5514/15: -115/16: 2216/17: -5517/18: 13818/19: -33119/20: -25820/21: 4921/22: -14822/23: -9123/24: -5224/25: 20725/26: 17309/1011/1213/1415/1617/1819/2021/2223/2425/26

Million bushels · Only the stock date that closes the marketing year (corn and soybeans September 1, wheat June 1) matches a WASDE ending-stocks estimate. Each year uses the WASDE public at that Grain Stocks release, never a later one.

Show data table
NASS Sep 1 stocks minus the WASDE estimate public at the release, by marketing year, in million bushels; 2025/26: +173 mil. bu.
Marketing yearStock dateNASSWASDEWASDE usedGapGap %
2025/26Sep 1, 20262,095 mil. bu1,922 mil. buSeptember 2026+173 mil. bu+9.0%
2024/25Sep 1, 20251,532 mil. bu1,325 mil. buSeptember 2025+207 mil. bu+15.6%
2023/24Sep 1, 20241,760 mil. bu1,812 mil. buSeptember 2024−52 mil. bu−2.8%
2022/23Sep 1, 20231,361 mil. bu1,452 mil. buSeptember 2023−91 mil. bu−6.2%
2021/22Sep 1, 20221,377 mil. bu1,525 mil. buSeptember 2022−148 mil. bu−9.7%
2020/21Sep 1, 20211,236 mil. bu1,187 mil. buSeptember 2021+49 mil. bu+4.2%
2019/20Sep 1, 20201,995 mil. bu2,253 mil. buSeptember 2020−258 mil. bu−11.4%
2018/19Sep 1, 20192,114 mil. bu2,445 mil. buSeptember 2019−331 mil. bu−13.5%
2017/18Sep 1, 20182,140 mil. bu2,002 mil. buSeptember 2018+138 mil. bu+6.9%
2016/17Sep 1, 20172,295 mil. bu2,350 mil. buSeptember 2017−55 mil. bu−2.3%
2015/16Sep 1, 20161,738 mil. bu1,716 mil. buSeptember 2016+22 mil. bu+1.3%
2014/15Sep 1, 20151,731 mil. bu1,732 mil. buSeptember 2015−1 mil. bu−0.0%
2013/14Sep 1, 20141,236 mil. bu1,181 mil. buSeptember 2014+55 mil. bu+4.6%
2012/13Sep 1, 2013824 mil. bu661 mil. buSeptember 2013+163 mil. bu+24.6%
2011/12Sep 1, 2012988 mil. bu1,181 mil. buSeptember 2012−193 mil. bu−16.3%
2010/11Sep 1, 20111,128 mil. bu920 mil. buSeptember 2011+208 mil. bu+22.6%
2009/10Sep 1, 20101,708 mil. bu1,386 mil. buSeptember 2010+322 mil. bu+23.2%
above USDA’s estimaten = 17· History: each year against the WASDE public at that release· NASS stocks as first printed
Chapter 02 · Grain Stocks · implied use

Implied use vs 5 years

Jun 1 → Sep 1: 3,196 mil. bu used (start stocks 5,291 mil. bu − end stocks 2,095 mil. bu; not a harvest quarter, so no production term); the same quarter of the 5 prior years: 2,987 mil. bu (2,746–3,237 mil. bu, n = 5).

2,7463,237
02,0004,0006,000Dec 1 ’24: 4,556Mar 1 ’25: 3,925Jun 1 ’25: 3,504Sep 1 ’25: 3,112Dec 1 ’25: 5,290Mar 1 ’26: 4,281Jun 1 ’26: 3,735Sep 1 ’26: 3,196Dec 1 ’24Mar 1 ’25Jun 1 ’25Sep 1 ’25Dec 1 ’25Mar 1 ’26Jun 1 ’26Sep 1 ’26

Implied use = stocks at the start of the quarter + production (harvest quarter only, the WASDE figure public at the release) − stocks at the end. Imports are not added.

inside the 5-yr rangen = 5small sample· imports omitted; small for corn/soy· NASS may revise production on the same day (Small Grains Summary / annual Crop Production); this uses the WASDE figure public at release
Show data table
Implied use of corn by quarter, in million bushels; latest 3,196 mil. bu.
QuarterStart stocksProductionEnd stocksImplied use5-yr mean5-yr rangen
Jun 1 → Sep 1, 20265,291 mil. bu02,095 mil. bu3,196 mil. bu2,987 mil. bu2,746–3,2375
Mar 1 → Jun 1, 20269,030 mil. bu05,295 mil. bu3,735 mil. bu3,430 mil. bu3,295–3,5845
Dec 1 → Mar 1, 202613,306 mil. bu09,024 mil. bu4,281 mil. bu3,711 mil. bu3,421–3,9255
Sep 1 → Dec 1, 20251,551 mil. buproduction 17,021 mil. bu (WASDE January 2026)13,282 mil. bu5,290 mil. bu4,574 mil. bu4,298–4,7805
Jun 1 → Sep 1, 20254,643 mil. bu01,532 mil. bu3,112 mil. bu2,970 mil. bu2,746–3,2375
Mar 1 → Jun 1, 20258,147 mil. bu04,644 mil. bu3,504 mil. bu3,275 mil. bu2,728–3,5845
Dec 1 → Mar 1, 202512,075 mil. bu08,151 mil. bu3,925 mil. bu3,616 mil. bu3,421–3,8245
Sep 1 → Dec 1, 20241,763 mil. buproduction 14,867 mil. bu (WASDE January 2025)12,074 mil. bu4,556 mil. bu4,567 mil. bu4,298–4,7805
Chapter 03 · Grain Stocks · on-farm share

Who holds the stocks

37.6% of the Sep 1, 2026 stocks were on farms; the same date of the 5 prior years: 39.8% (32.0%–44.4%, n = 5). Total stocks +35.1% vs a year earlier.

32%44%
inside the 5-yr rangen = 5small sample· Each release can revise the previous quarter

Last 8 stock dates (latest revision; first print kept in the dataset)

Stock dateOn farmsOff farmsTotalOn-farm shareRevised
Sep 1, 2026787 mil. bu1,308 mil. bu2,095 mil. bu37.6%—
Jun 1, 20262,959 mil. bu2,332 mil. bu5,291 mil. bu55.9%revised
Mar 1, 20265,432 mil. bu3,598 mil. bu9,030 mil. bu60.2%revised
Dec 1, 20258,699 mil. bu4,607 mil. bu13,306 mil. bu65.4%revised
Sep 1, 2025643 mil. bu908 mil. bu1,551 mil. bu41.5%revised
Jun 1, 20252,556 mil. bu2,087 mil. bu4,643 mil. bu55.1%revised
Mar 1, 20254,500 mil. bu3,647 mil. bu8,147 mil. bu55.2%revised
Dec 1, 20247,663 mil. bu4,412 mil. bu12,075 mil. bu63.5%revised
Explore: every stock date and its 5-yr band

2025/26 by stock date vs the same date of the 5 prior years

Stock date2025/265-yr mean5-yr rangen
Dec 1, 202513,306 mil. bu11,599 mil. bu10,813–12,1715
Mar 1, 20269,030 mil. bu7,870 mil. bu7,396–8,3525
Jun 1, 20265,291 mil. bu4,441 mil. bu4,103–4,9975
Sep 1, 20262,095 mil. bu1,457 mil. bu1,235–1,7635

Last 12 stock dates (latest revision; first print kept in the dataset)

Stock dateOn farmsOff farmsTotalOn-farm shareRevised
Sep 1, 2026787 mil. bu1,308 mil. bu2,095 mil. bu37.6%—
Jun 1, 20262,959 mil. bu2,332 mil. bu5,291 mil. bu55.9%revised
Mar 1, 20265,432 mil. bu3,598 mil. bu9,030 mil. bu60.2%revised
Dec 1, 20258,699 mil. bu4,607 mil. bu13,306 mil. bu65.4%revised
Sep 1, 2025643 mil. bu908 mil. bu1,551 mil. bu41.5%revised
Jun 1, 20252,556 mil. bu2,087 mil. bu4,643 mil. bu55.1%revised
Mar 1, 20254,500 mil. bu3,647 mil. bu8,147 mil. bu55.2%revised
Dec 1, 20247,663 mil. bu4,412 mil. bu12,075 mil. bu63.5%revised
Sep 1, 2024780 mil. bu983 mil. bu1,763 mil. bu44.3%revised
Jun 1, 20243,026 mil. bu1,971 mil. bu4,997 mil. bu60.6%revised
Mar 1, 20245,079 mil. bu3,273 mil. bu8,352 mil. bu60.8%revised
Dec 1, 20237,830 mil. bu4,341 mil. bu12,171 mil. bu64.3%revised

Take this report

History: NASS Grain Stocks files on ESMIS start with the Jun 30, 2010 release.

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