News

Quarterly grain stocks increase

Record corn and soybean production pushed U.S. grain stocks higher.

The USDA says that at the start of December 2016, U.S. corn stocks were 12.384 billion bushels, up 10% on the year, and soybean stocks were 2.895 billion bushels, 7% higher. Demand did limit some of the impact, with implied use from September through November up on the year for both.

Wheat stocks came out at 2.073 billion bushels, 19% above the year before. The implied quarterly usage was up on the year, but relatively slow export demand for U.S. wheat contributed to a 21% increase in off farm storage, compared to a 13% rise for on farm supplies.

The next quarterly grain stocks report is out March 31st.