SOYBEAN STOCKS DOWN, BUT CORN STOCKS UP FROM 2003

Columbia, S. C., January 12, 2005: SOYBEAN stocks stored in off-farm position in SOUTH CAROLINA on December 1, 2004 totaled 4.2 million bushels, compared to 5.7 million bushels stored December 1, 2003, the USDA NASS South Carolina Statistical Office announced today. CORN stocks stored in off-farm facilities totaled 3.7 million bushels as of December 1, 2004, compared to 2.8 million bushels stored off-farm on December 1, 2003. South Carolina WHEAT stocks stored off the farm totaled 1.6 million bushels on December 1, 2004 compared to 940 thousand bushels stored off the farm a year earlier.

CORN stocks in all positions in the UNITED STATES on December 1, 2004 totaled 9.45 billion bushels, up 19 percent from December 1, 2003. This is the highest December 1 stocks level since 1987. Of the total stocks, 6.14 billion bushels are stored on farms, up 16 percent from a year earlier. Off-farm stocks, at 3.30 billion bushels, are up 24 percent from a year ago. The September - November 2004 indicated disappearance is 3.32 billion bushels, compared with 3.22 billion bushels during the same period last year.

SOYBEANS stored in all positions on December 1, 2004 totaled 2.30 billion bushels, up 36 percent from December 1, 2003. This is the largest December 1 stocks level on record, exceeding the previous record set in 2001 by 1 percent. Soybean stocks stored on farms totaled 1.30 billion bushels, up 59 percent from a year ago and set a new record high by 5 percent. Off-farm stocks, at 1.00 billion bushels, are up 16 percent from last December. Indicated disappearance for September - November 2004 totaled 949 million bushels, up 1 percent from the same period a year earlier.

ALL WHEAT stored in all positions on December 1, 2004 totaled 1.43 billion bushels, down 6 percent from a year ago. On-farm stocks are estimated at 531 million bushels, up 8 percent from last December. Off-farm stocks, at 900 million bushels, are down 13 percent from a year ago. The September - November 2004 indicated disappearance is 508 million bushels, down 2 percent from the same period a year earlier.

For additional information call:

Robert A. Graham, State Director

Steve Pavlasek, Deputy Director