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Quarterly stocks up on year
The USDA says that as of June 1st, U.S. corn, soybean, and wheat stocks were above last year’s levels.
Corn stocks increased 6% to 4.72 billion bushels, with the indicated quarterly disappearance down on the year. Soybeans were 39% higher at 870 million bushels, mostly on a jump in off farm supplies, also seeing a year to year decline in quarterly usage. Wheat stocks were 30% higher to 981 million bushels, including a 27% increase in on farm stocks and a 31% rise in off farm supplies.
The next set of quarterly stocks numbers are out at the end of September.
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