June 1 corn, soybean stocks up 11%

by Ron Sterk
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Corn, soybeans and wheat

WASHINGTON — The U.S. Department of Agriculture in its June 30 Grain Stocks report estimated corn stocks in all positions on June 1 at 5,225 million bus, up 11% from a year earlier, including 2,841 million bus on farms, up 15%, and 2,384 million bus off farms, up 6%. Soybean stocks were estimated at 963 million bus, up 11% from last year, with on-farm stocks at 333 million bus, up 18%, and off-farm stocks at 631 million bus, up 7%. Old crop all wheat stocks totaled 1,184 million bus, up 21% from June 1, 2016, including 192 million bus on farms, down 3%, and 993 million bus off farms, up 28%. Durum stocks were 36.3 million bus, up 31%. Corn and all wheat stocks were above the average of trade expectations while soybeans were below.

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