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South Dakota sees major rise in grain storage in 2024
South Dakota Ag Connection - 04/02/2024

In a notable shift within South Dakota's agricultural landscape, farmers have reported a remarkable increase in grain storage as of March 1, 2024. This trend, as highlighted by the USDA’s National Agricultural Statistics Service, showcases the changing dynamics of crop management and storage strategies across the state.

· Corn Storage Skyrockets: Corn stocks have reached a total of 502 million bushels, marking a 23% increase from the previous year. Notably, 335 million bushels of this total are stored on farms, reflecting a 31% rise, while off-farm stocks account for 167 million bushels, up 8%.

· Soybean Stocks Surge: Soybean storage volumes have ballooned to 110 million bushels, up 48%, with on-farm stocks nearly doubling to 54.0 million bushels (a 93% increase). Off-farm storage also grew to 55.8 million bushels, up 21%.

· Wheat Storage Shows Stability: Total wheat storage is slightly up, with 36.7 million bushels reported. On-farm wheat stocks increased by 6%, while off-farm stocks saw a 5% decrease.

· Sorghum and Oats Storage Trends: Sorghum off-farm stocks decreased by 12%, contrasting with oats storage, which rose by 24%, indicating diverse storage trends across different grains.

· Barley Gains Noticeable Storage: Barley storage saw a significant 40% increase, with on-farm stocks up by 27% and off-farm stocks surging by 267%.

These storage trends not only reflect the adaptability and strategic planning of South Dakota farmers but also hint at broader market and environmental factors influencing agricultural practices.

The substantial increases in corn and soybean storage stand out, underscoring the state's role in feeding a growing demand amidst fluctuating agricultural landscapes.

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