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Stocks update shows record quarterly corn use

USDA’s Quarterly Grain Stocks update shows soybean stocks down from the previous quarter and record quarterly use for corn.

Corn stocks in all positions as of June 1 were reported at 4.310 billion bushels, compared to 7.694 billion at the end of the prior quarter, for usage of 3.384 billion bushels, compared to 2.69 billion for March to May 2009. A year ago, corn stocks totaled 4.261 billion bushels.

Soybeans stocks came out at 571.077 million bushels, compared to 1.270 billion on March 1, for usage of 699 million bushels, 1% less than March to May 2009. On June 1, 2009, soybean stocks were reported at 596.159 million bushels.

All wheat stocks were pegged at 973.392 million bushels, compared to 1.356 billion last quarter, for usage of 383 million bushels, a little less than during March to May 2009. Last year at this time, wheat stocks totaled 656.505 million bushels.

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