USDA reported 2.095 billion bushels of U.S. corn in storage on September 1, 2026—171 million bushels more than the average pre-report estimate DTN reported. The figure was also 90 million bushels above the top of DTN’s reported estimate range. The USDA number is an inventory estimate; it is separate from the market expectation and does not, by itself, establish how corn prices moved.
How much corn did USDA report in September 2026 grain stocks?
The USDA National Agricultural Statistics Service (NASS) reported 2.095 billion bushels of corn stocks on September 1, 2026, in its report released September 30. That was 35% more than on September 1, 2025.
NASS divided the total into 787.3 million bushels held on farms and 1.308 billion held off farms. Off-farm stocks include grain at commercial facilities such as mills, elevators, warehouses, terminals and processors.
How did the USDA corn stocks number compare with trade estimates?
DTN reported an average pre-release estimate of 1.924 billion bushels, with estimates ranging from 1.860 billion to 2.005 billion. USDA’s 2.095 billion total was 171 million above that average and 90 million above the range’s high end. These are differences from DTN’s reported comparison, not from an official USDA forecast or a universal analyst consensus.
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The report’s higher-than-expected inventory is a supply-side fact and may be bearish context for corn. The figures here do not establish the post-release futures move or quantify a price effect.
What does the September Grain Stocks report measure?
Grain Stocks reports the amount of grain in all positions on a specific reference date. September’s release measured stocks on September 1; it does not count all grain produced during the crop year or say that every bushel in storage remains unsold. NASS publishes quarterly estimates for March 1, June 1, September 1 and December 1.
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The estimate combines two survey systems: the Agricultural Survey collects on-farm stocks, while a separate Off-Farm Grain Stocks survey covers commercial storage facilities. NASS describes its methodology as a dual-frame farm survey and a quarterly census of known off-farm facilities, followed by review and reconciliation. It is a statistical estimate, not a physical count of every bushel in the country; farm and ranch reports are kept confidential and combined for estimates.
Why were USDA corn inventories larger than expected?
The comparison establishes that USDA’s inventory estimate exceeded DTN’s reported pre-release expectations; it does not establish why the estimate was higher. One related figure in the report is June–August indicated corn disappearance of 3.20 billion bushels. Disappearance is a flow measure over a period, while stocks are inventory at a point in time, so the two figures describe different things.
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NASS also reviewed the prior corn and soybean balance sheets and made normal end-of-marketing-year revisions to prior-season acreage, yield and production. The September report therefore includes both the September 1 stocks estimate and those revisions; the inventory comparison alone does not identify the contribution of each factor.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How did soybean and wheat stocks compare?
Other major grain totals moved in a different direction from corn. NASS reported soybean stocks of 315.1 million bushels, down 3% year over year, and all-wheat stocks of 1.846 billion bushels, down 14%.
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| Commodity | September 1, 2026 stocks | Change from September 1, 2025 |
|---|---|---|
| Corn | 2.095 billion bushels | Up 35% |
| Soybeans | 315.1 million bushels | Down 3% |
| All wheat | 1.846 billion bushels | Down 14% |
For comparisons across releases, match the reference dates and storage positions, and keep year-over-year changes separate from pre-report estimates. Also distinguish inventory from disappearance: one is a point-in-time stock, the other a period flow.
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